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Packaging Corp. to conduct offering of fixed-rate notes in two parts
By Devika Patel
Knoxville, Tenn., Dec. 11 – Packaging Corp. of America intends to offer fixed-rate senior notes in two tranches due 2020 and 2027, according to a 424B3 filing with the Securities and Exchange Commission.
The 2020 notes will have a make-whole call. The 2027 notes will have a make-whole call initially, then a par call.
Deutsche Bank Securities Inc. and Wells Fargo Securities LLC are the bookrunners.
Proceeds will be used to repay all debt under the company’s term loans, consisting of $626 million outstanding under the 2020 term loan and $350 million under the 2021 term loan, and for general corporate purposes.
Packaging Corp. of America is based in Lake Forest, Ill., and makes containerboard and corrugated packaging products.
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