Packaging Corp. to offer senior notes due 2033 via two bookrunners

By Mary-Katherine Stinson

Lexington, Ky., Nov. 27 – Packaging Corp. of America is conducting a sale of fixed-rate senior notes due 2033, according to a 424B3 filing with the Securities and Exchange Commission.

The notes have a make-whole call and then a par call three 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. Cahill Gordon & Reindel LLP is legal counsel for the underwriters.

Proceeds will be used, with cash on hand, to redeem the company’s outstanding 3.65% senior notes due Sept. 15, 2024.

Packaging Corp. of America is based in Lake Forest, Ill., and makes containerboard and corrugated packaging products.

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