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Graphic Packaging Corporation Announces New Senior Secured Credit Facilities
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Marietta, Georgia, USA, 17 May 2007 -- /PRNewswire/ -- Graphic Packaging Corporation (NYSE:GPK) today announced that it has entered into a USD 1355 million senior secured credit facility with various lenders and Bank of America, N.A. as administrative agent.

The new senior secured credit facilities consist of a USD 300 million revolving credit facility, due on 16 May 2013, and a USD 1055 million term loan facility, due on May 16, 2014. The new revolving credit facility has an interest rate of Libor plus 225 basis points, and the new term loan facility has an interest rate of Libor plus 200 basis points. The new senior secured credit facilities will be used to replace the existing USD 325 million revolving credit facility, due on 08 August 2009, and the existing USD 1275 million term loan facility, due on 08 August 2010.

"We are very pleased with the terms of the new credit facilities and appreciate the support of all of our lenders," said David W. Scheible, president and chief executive officer. "These facilities, along with our operating cash flows and cash position, will provide the liquidity and financial flexibility to meet our operating needs and strategic goals."

Banc of America Securities LLC and Deutsche Bank Securities Inc. acted as joint lead arrangers in connection with the new facilities, while Banc of America Securities LLC, Deutsche Bank Securities Inc., and Goldman Sachs Credit Partners L.P. acted as joint book managers for the transaction.

About Graphic Packaging Corporation

Graphic Packaging Corporation, headquartered in Marietta, Georgia, is a leading provider of paperboard packaging solutions for a wide variety of products to food, beverage and other consumer products companies. The company's customers include some of the most widely recognized companies in the world. Additional information about Graphic Packaging, its business and its products is available on the company's Web site at http://www.graphicpkg.com/.

Source: Graphic Packaging Corporation


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