Graphic Packaging Secures $400 Million Delayed Draw Term Loan to Refinance 2026 Notes
Graphic Packaging International, LLC, the main operating subsidiary of Graphic Packaging Holding Company, has entered into an Incremental Facility Amendment to its existing credit agreement. The amendment, involving Bank of America, N.A. and Coöperatieve Rabobank U.A., New York Branch, establishes a Delayed Draw Incremental Term Facility of up to $400 million. This facility allows Graphic Packaging to draw the funds in a single transaction between March 15, 2026, and April 15, 2026, with a maturity date of June 30, 2027. The loan will be used to fully repay the company's 1.512% Senior Secured Notes due 2026 and cover associated transaction costs. The facility will bear interest at a floating rate based on SOFR or the Base Rate, with terms determined by the company's leverage ratio. The obligations are secured by a first-priority lien on substantially all personal property assets of the company and its guarantors.
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