Rock-Tenn enters into fourth amendment, allocates for peso revolver

By Tali David

Minneapolis, June 13 - Rock-Tenn Co. entered into a fourth amendment to its amended and restated credit agreement dated May 27, 2011, allowing the company to allocate to a separate revolving credit facility up to $200 million of the lenders' commitments under the agreement to be made available for loans denominated in Mexican pesos, according to an 8-K filed with the Securities and Exchange Commission.

Among other things, the amendment also

• Limits the aggregate face amount of letters of credit that certain lenders will issue under the credit agreement;

• Removes the requirement that the borrowers' senior secured leverage ratio be less than 2.75 to 1 for incremental loans under the credit agreement; and

• Adds provisions related to possible swaps entered into by the borrowers' guarantor subsidiaries that are not "eligible contract participants" as defined in the Commodity Exchange Act.

RockTenn, is the borrower and RockTenn Co. of Canada Holdings Corp./Compagnie de Holdings RockTenn du Canada Corp. is the Canadian borrower.

Wells Fargo Bank, NA is the administrative agent for the lenders and Bank of America, N.A., acting through its Canada branch, is the Canadian administrative agent for the lenders.

Rock-Tenn is a Norcross, Ga., manufacturer of corrugated and consumer packaging and recycling solutions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.