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Packaging Corp. intends to conduct offering of senior notes due 2051
Chicago, Sept. 7 – Packaging Corp. of America is conducting a sale of fixed-rate senior notes due 2051, according to a 424B3 filing with the Securities and Exchange Commission on Tuesday morning.
The notes have a make-whole call and then a par call six months before the maturity of the notes.
If there is a change-of-control triggering event, the company will have to make an offer to repurchase the notes at 101.
Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC are joint bookrunners for the notes.
U.S. Bank NA is the trustee.
Mayer Brown LLP is advising the issuer.
Proceeds will be used, with cash on hand, to redeem the company’s 4.5% senior notes due 2023.
Packaging Corp. of America is based in Lake Forest, Ill., and makes containerboard and corrugated packaging products.
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