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Reynolds Group Holdings Amends Credit Facility to Enable Acquisition of Pactiv
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Auckland, New Zealand, 30 September 2010 -- (BUSINESS WIRE) -- Reynolds Group Holdings Limited previously announced on 08 September 2010 that it intended to finance the acquisition of Pactiv Corporation and associated transaction costs with a combination of approximately USD 1.5 billion of additional indebtedness pursuant to an amendment to its existing senior secured credit facility, approximately USD 3.5 billion of new senior indebtedness, of which approximately USD 2.0 billion was expected to be secured, and approximately USD 734 million of new equity and available cash.

Reynolds Group today announced that on 30 September 2010 it entered into an amendment to its existing senior secured credit facility pursuant to which incremental lenders committed to provide incremental term loans in an aggregate principal amount equal to USD 2.02 billion, to be funded on, or in escrow before, the closing date of the acquisition of Pactiv. The proceeds of such incremental term loans will be used to finance, in part, the acquisition and associated transaction costs.

Reynolds Group today announced that it intends to finance the acquisition of Pactiv and associated transaction costs with the revised capital structure consisting of a combination of USD 2.02 billion aggregate principal amount of additional indebtedness under its senior secured credit facility, approximately USD 3.0 billion of new senior indebtedness, of which approximately USD 1.5 billion is expected to be secured, and approximately USD 734 million of new equity and available cash.

Reynolds Group is a leading global manufacturer and supplier of consumer food and beverage packaging and storage products and operates through five primary segments: Reynolds Consumer, Reynolds Foodservice, SIG, Evergreen, and Closures. Reynolds Group is based in Auckland, New Zealand. Additional information regarding Reynolds Group is available at www.reynoldsgroupholdings.com.



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