Rock-Tenn amends loan, increasing stock repurchase limit

By Sara Rosenberg

New York, Aug. 7 - Rock-Tenn Co. amended its senior credit facility, increasing the limit on cash repurchases of common stock to $100 million during any fiscal year, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

However, these stock repurchases cannot cause the company's leverage ratio to exceed 3.25:1.00.

At June 30, the company's leverage ratio was 2.60:1.00.

Prior to the amendment, the facility limited the company to stock repurchases of 200,000 shares in any fiscal year.

Rock-Tenn is a Norcross, Ga.-based manufacturer and seller of packaging products, merchandising displays and paperboard.

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