Business News

Caraustar Industries, Inc. Reaches Agreement to Extend Revolving Credit Facility; Postpones Annual Shareholder Meeting

Monday 18. May 2009 - Caraustar Industries, Inc. (Nasdaq: CSAR) today announced that on May 8, 2009, the company amended its Senior Credit Facility, originally dated March 30, 2006, with Bank of America, N.A.

The Eighth Amendment to the Amended and Restated Credit Agreement extends until May 15, 2009 the notification date at which time the company was required to advise participating lenders of its plan to refinance or defease the Senior Notes in the amount of approximately $190 million, maturing on June 1, 2009. Subsequently, on May 15, 2009 the lenders further extended the notification date to June 1, 2009. Additionally, the company’s announced that its Annual Shareholders’ Meeting, which was originally scheduled for Wednesday, May 20, 2009, has been postponed until further notice.