debt
confidence high
sentiment positive
materiality 0.50
Graphic Packaging issues $115.2M green bonds at 5.00% to refinance revolver
GRAPHIC PACKAGING HOLDING CO
- Tax-exempt green bonds due 2064, mandatory purchase June 1, 2030; issued at 2.677% premium.
- Net proceeds ~$116.2M after underwriters' discount and fees; all-in yield 4.17%.
- Proceeds to pay down higher-cost senior secured revolving facility.
- Bonds are special limited obligations of MEDC, secured by loan payments from Graphic Packaging International.