Click here for Pulp & Paper Radio International
The Paperitalo Library
Free Downloads
My Profile
Newark Group Announces Refinancing

Cranford, New Jersey, USA 13 February 2013 -- The Newark Group today announced that they have completed a $186 million refinancing transaction. The Company successfully raised debt financing consisting of an undrawn $50 million ABL Revolving Credit Facility, an $80 million 1st Lien Term Loan, and a $56 million 2nd Lien Term Loan.

"This is a significant enhancement for the Newark Group. It permits the Company to invest in equipment, technology and talent." said Frank Papa, Newark CEO and President. He added "The refinancing increases the countless capabilities in paperboard design and functionality that we can offer our customers and vendors."

Newark CFO Gregg Kam commented on the transaction stating "The successful completion of the refinancing represents a vote of confidence in Newark's strategic vision and represents another step in the Company’s operational and financial transformation."

Moelis & Company served as exclusive financial advisor on the transaction. Lowenstein Sandler LLP served as Newark's legal advisor.


Related Articles:

Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: