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GPK > SEC Filings for GPK > Form 8-K on 18-Sep-2013All Recent SEC Filings

Show all filings for GRAPHIC PACKAGING HOLDING CO

Form 8-K for GRAPHIC PACKAGING HOLDING CO


18-Sep-2013

Entry into a Material Definitive Agreement, Financial Statements and


Item 1.01. Entry into a Material Definitive Agreement.

On September 13, 2013, Graphic Packaging International, Inc. (the "Company"), a wholly-owned subsidiary of Graphic Packaging Holding Company, entered into an Amendment No. 2 ("Amendment No. 2") relating to its Amended and Restated Credit Agreement dated as of March 16, 2012, as previously amended (the "Credit Agreement") among Bank of America, N.A., as Administrative Agent, Swing Line Lender, L/C Issuer and Alternative Currency Funding Fronting Lender, and JP Morgan Chase Bank, N.A., Citibank, N.A., Goldman Sachs Bank USA and SunTrust Bank, as Co-Syndication Agents, and the several lenders from time to time party thereto.

Pursuant to Amendment No. 2, the maturity date of the Company's existing US$1.0 billion revolving credit facility, the Company's existing $1.0 billion term loan A facility and the Company's existing US$300.0 million incremental term loan facility, have each been extended to September 13, 2018 (from March 16, 2017). Further, the interest rate margins under each facility have been reduced by 25 basis points to a range of between 1.50% and 2.50% for loans based upon the London Interbank Offered Rate, depending upon the Company's then current consolidated total leverage ratio. (Interest rate margins for loans utilizing the base rate option have been reduced in a corresponding fashion.)

Amendment No. 2 also adds a new 75.0 million revolving credit facility (the "Euro Facility") available to the Company, Graphic Packaging International Europe Holdings, B.V., the Company's primary Dutch subsidiary, and Graphic Packaging International Limited, the Company's primary UK subsidiary. Borrowings under the Euro Facility will be made in Euros and Pounds Sterling and will have the same maturity and interest rate pricing as the Company's US$1.0 billion revolving credit facility, as amended by Amendment No. 2.

Amendment No. 2 also adds a new 2.50 billion revolving credit facility (the "Yen Facility") available to the Company and Graphic Packaging International Japan Ltd., the Company's primary Japanese subsidiary. Borrowings under the Yen Facility will be made in Yen and will have the same maturity and interest rate pricing as the Company's U.S. $1.0 billion revolving credit facility, as amended by Amendment No. 2.

Except as described above, the Credit Agreement remains in effect without other material amendments or modifications.

This summary is qualified in its entirety by reference to Amendment No. 2, which is included as Exhibit 10.1 and incorporated herein by reference.



Item 9.01. Financial Statements and Exhibits.

10.1    Amendment No. 2 to Amended and Restated Credit Agreement dated as of
        March 16, 2012, as previously amended, among Bank of America, N.A., as
        Administrative Agent, Swing Line Lender, L/C Issuer and Alternative
        Currency Funding Fronting Lender, and JP Morgan Chase Bank, N.A.,
        Citibank, N.A., Goldman Sachs Bank USA and SunTrust Bank, as
        Co-Syndication Agents, and the several lenders from time to time party
        thereto.

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