The Senior Notes were sold only to qualified institutional buyers in accordance with Rule 144A of the Securities Act of 1933, as amended, and outside the United States to non-U.S. persons, in reliance on Regulation S.
The gross proceeds from the offering are approximately USD 185.4 million. The proceeds from the offering will be used to redeem the remaining approximately USD 180 million aggregate principal amount of Graphic Packaging's 8.50% senior notes due 2011, to pay accrued interest on the 2011 notes and to pay fees and expenses incurred in connection with the offering and the redemption.
"We are pleased with both the execution and the pricing of this new bond issuance," said David W. Scheible, Graphic Packaging's president and chief executive officer. "We were able to take advantage of favorable market conditions and as a result, Graphic Packaging now has no significant debt maturities until 2013."
The Senior Notes have not been registered under the Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and any applicable state securities laws.
Graphic Packaging International, Inc., a subsidiary of Graphic Packaging Holding Company (NYSE: GPK), headquartered in Marietta, Georgia, is a leading provider of packaging solutions for a wide variety of products to food, beverage, and other consumer products companies. The company is the largest global producer of folding cartons and holds a leading market position in coated unbleached kraft paperboard, coated-recycled boxboard, and specialty bag packaging. Additional information about Graphic Packaging, its business, and its products is available at www.graphicpkg.com.