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Graphic Packaging announced the pricing of $500 million senior notes offering due 2032 in a private offering. The notes will bear an annual interest rate of 6.375% and are expected to close on May 13, 2024. The net proceeds are estimated to be around $493 million, to be used for repayment of borrowings, fees, expenses, and general corporate purposes.
Graphic Packaging International, , a subsidiary of Graphic Packaging Holding Company, announced a proposed private offering of $500 million senior notes due 2032. The offering aims to repay outstanding borrowings, cover fees, and expenses related to the offering, and for general corporate purposes. The Senior Notes will be guaranteed by the parent company and certain subsidiaries. The offering targets qualified institutional buyers and non-U.S. persons.
Graphic Packaging Holding Company reported its first quarter 2024 financial results showcasing a decrease in net sales to $2,259 million, net income of $165 million, adjusted EBITDA of $443 million, and an adjusted earnings per diluted share of $0.66. The company also revealed the sale of its Augusta, Georgia manufacturing facility to Clearwater Paper and provided a 2024 annual guidance. Despite lower sales, the company remains optimistic about future growth opportunities.
