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GPK > SEC Filings for GPK > Form 8-K on 2-Apr-2013All Recent SEC Filings

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Form 8-K for GRAPHIC PACKAGING HOLDING CO


2-Apr-2013

Entry into a Material Definitive Agreement, Creation of a Direct Fin


Item 1.01. Entry into a Material Definitive Agreement.

On April 2, 2013, Graphic Packaging International, Inc. ("GPI"), a wholly-owned subsidiary of Graphic Packaging Holding Company, completed the issuance and sale of $425 million aggregate principal amount of its 4.75% senior notes due 2021 (the "Senior Notes") in a previously announced registered public offering.

Indenture

The Senior Notes were issued pursuant to the Indenture, dated as of September 29, 2010 (the "Base Indenture"), and the Supplemental Indenture dated April 2, 2013 (the "Supplemental Indenture" and, together with the Base Indenture, the "Indenture"), by and among GPI, the guarantors listed therein and U.S. Bank National Association, as Trustee. The Indenture provides that interest on the Senior Notes is payable semiannually in cash on April 1 and October 1 of each year, and the Senior Notes mature on April 15, 2021.

Under the Indenture, GPI has the right to redeem the Senior Notes, in whole or in part, prior to January 15, 2021 at 100% of their principal amount, plus accrued interest to the redemption date, plus the Applicable Premium as defined in the Indenture. At any time after January 15, 2021, the Company has the right to redeem the Senior Notes, at a redemption price equal to 100% of the principal amount thereof plus accrued and unpaid interest, if any, to the date of redemption. In addition, on or prior to April 15, 2016, GPI has the right to redeem up to 35% of the aggregate principal amount of outstanding Senior Notes with the proceeds from sales of certain kinds of capital stock at a redemption price equal to 104.75% of their principal amount, plus accrued interest to the redemption date. GPI may make such redemption only if, after any such redemption, at least 65% of the aggregate principal amount of Senior Notes originally issued under the Indenture (including any additional Senior Notes) remains outstanding.

The Indenture contains certain covenants that, among other things, limit GPI's ability and the ability of its restricted subsidiaries to incur additional indebtedness, make certain dividends, redeem stock or make other distributions, make certain investments, create liens, transfer or sell assets, merge or consolidate, and enter into transactions with GPI's affiliates. Such covenants are subject to a number of important exceptions and qualifications set forth in the Indenture. The Indenture also contains certain customary events of default, including failure to make payments in respect of the principal amount of the Senior Notes, failure to make payments of interest on the Senior Notes when due and payable, failure to comply with certain covenants and agreements and certain events of bankruptcy or insolvency.

An event of default under the Indenture will allow the Trustee or the holders of at least a majority in principal amount of the then outstanding Senior Notes to declare the principal of and accrued but unpaid interest on all Senior Notes due and payable, or in the case of events of default involving bankruptcy, insolvency or reorganization of GPI, such principal and accrued interest on all Senior Notes will become immediately due and payable without action from the trustee or any holder

The foregoing description of the Indenture does not purport to be complete and is qualified in its entirety by reference to the full text of the Indenture, which is attached as Exhibit 4.1 to this Current Report on Form 8-K and incorporated by reference herein.



Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth under the caption "Indenture" in Item 1.01 above is incorporated by reference into this Item 2.03.

The Company is filing this Current Report on Form 8-K to file with the Securities and Exchange Commission certain items related to the offering of the Senior Notes that are to be incorporated by reference into its Registration Statement on Form S-3 (Registration No. 333-176606).




Item 9.01. Financial Statements and Exhibits.

4.1 Supplemental Indenture, dated as of April 2, 2013, by and among Graphic Packaging International, Inc., the guarantors named therein and U.S. Bank National Association, as trustee.

5.1 Opinion of Alston & Bird LLP

23.1 Consent of Alston & Bird LLP (included in Exhibit 5.1)


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