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Pretium revises agreements with first-lien lenders
By William Gullotti
Buffalo, N.Y., Oct. 2 – Pretium Packaging, LLC reached an agreement with a majority of its first-lien lenders for a comprehensive transaction that includes new debt financing and an exchange of existing debt, according to a press release on Monday.
The transaction, conducted to enhance liquidity and reduce net debt, will be offered to all other existing first-lien lenders.
Evercore Group LLC served as exclusive financial adviser, and Kirkland & Ellis LLP served as exclusive legal adviser to the company.
Davis Polk & Wardwell LLP served as exclusive legal adviser to the ad hoc group of lenders.
Relevant details, such as the amounts and lenders involved in the comprehensive transaction, were not disclosed in the press release.
Pretium is a Chesterfield, Mo.-based designer and manufacturer of rigid plastic packaging solutions for specialized applications.
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