American Greetings will use upsized term loan for notes due 2025

Chicago, Feb. 1 – American Greetings Corp. announced that it would use an upsized $402 million term loan to refinance $120 million of senior notes due April 2025, according to a market source.

The company previously had the loan at an expected $282 million with proceeds only earmarked for an amendment and extension of an existing senior secured first-lien term loan due April 2024.

American Greetings is a Cleveland-based celebration solutions provider offering greeting cards, gift packaging, party goods, gifting products and digital offerings.

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