Benzinga | Nov 8, 2021 06:44AM EST

Graphic Packaging To Raise $735M Via Debt Offering

* Graphic Packaging Holding Company's (NYSE:GPK) subsidiary, Graphic Packaging International LLC, has launched an offering to sell $400.0 million of its senior notes due 2030 and (euro)290.0 million of its senior notes due 2029 in a private offering.

* The Senior Notes will be guaranteed by Graphic Packaging International Partners LLC and by Graphic Packaging's existing and future material domestic subsidiaries.

* Graphic Packaging expects to use the net proceeds to repay the loan incurred for the acquisition of AR Packaging Group AB, a Swedish limited liability company.

* Price Action: GPK shares closed higher by 1.48% at $20.54 on Friday.