---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-174557"
form_type: "8-K"
ticker: "PKG"
cik: "0000075677"
company_name: "PACKAGING CORP OF AMERICA"
filed_at: "2025-08-06T23:59:59+00:00"
generated_at: "2026-05-17T20:12:11.015230+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# PCA enters $1.6B in new credit facilities to fund Greif Acquisition

## Summary
- New $500M 3-year term loan and $600M 5-year revolver (Commercial Credit) plus $500M 7-year term loan (Farm Credit) for total new facilities of $1.6B.
- Proceeds from term loans will be used to fund the Greif Acquisition; revolving facility for working capital and general corporate purposes.
- Old credit agreement (due June 2026) terminated; no borrowings outstanding except $27.5M in letters of credit.
- Interest rates: SOFR + 0.805%-1.500% (commercial term loan) and SOFR + 1.85%-2.35% (farm term loan); tied to PCA's credit ratings.

## SEC filing metadata
- accession: 0001193125-25-174557
- form_type: 8-K
- ticker: PKG
- cik: 0000075677
- company_name: PACKAGING CORP OF AMERICA
- filed_at: 2025-08-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/75677/000119312525174557/0001193125-25-174557-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/75677/000119312525174557/d19330d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-174557
- JSON: https://secwatch.observer/filing/0001193125-25-174557.json
- Plain text: https://secwatch.observer/filing/0001193125-25-174557.txt

## Key facts
- Debt Financings
  PACKAGING CORP OF AMERICA incurred credit facility of $500 million three-year unsecured term loan facility and a $600 million unsecured revolving credit facility at Term SOFR Rate or the Base Rate plus the Applicable Margin maturing three-year unsecured term loan facility.
  - Instrument: credit facility
  - Principal: $500 million three-year unsecured term loan facility and a $600 million unsecured revolving credit facility
  - Rate: Term SOFR Rate or the Base Rate plus the Applicable Margin
  - Maturity: three-year unsecured term loan facility
  - Event: incurrence
  source text: The Commercial Credit Agreement includes a $500 million three-year unsecured term loan facility and a $600 million unsecured revolving credit facility.
  evidence_url: https://www.sec.gov/Archives/edgar/data/75677/000119312525174557/0001193125-25-174557-index.htm
- Debt Financings
  PACKAGING CORP OF AMERICA incurred credit facility of $500 million seven-year unsecured term loan facility at Term SOFR Rate or the Base Rate plus the Applicable Margin maturing seven-year unsecured term loan facility.
  - Instrument: credit facility
  - Principal: $500 million seven-year unsecured term loan facility
  - Rate: Term SOFR Rate or the Base Rate plus the Applicable Margin
  - Maturity: seven-year unsecured term loan facility
  - Event: incurrence
  source text: The Farm Credit Agreement is a $500 million seven-year unsecured term loan facility.
  evidence_url: https://www.sec.gov/Archives/edgar/data/75677/000119312525174557/0001193125-25-174557-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.