Business News
Graphic Packaging Announces Early Tender Results of Offer to Purchase
Tuesday 16. June 2009 - Graphic Packaging International, Inc. ("Graphic Packaging"), a subsidiary of Graphic Packaging Holding Company (NYSE:GPK), announced today that, as of 5:01 p.m., New York City time, on June 12, 2009 (the "Early Tender Date"), $397.8 million aggregate principal amount, or 93.59%, of notes have been validly tendered and not validly withdrawn in connection with its previously announced cash tender offer to purchase up to $225 million aggregate principal amount of its outstanding 8.50% Senior Notes due August 2011, with CUSIP number 38869PAB0 (the "Notes").
The amount of Notes that will be purchased will be prorated based on the aggregate principal amount of Notes validly tendered in the tender offer. Holders who validly tender their Notes by the Early Tender Date, and whose Notes are accepted for payment, will receive $1,021.25 per $1,000 principal amount of Notes tendered.
The tender offer is scheduled to expire at 8:00 a.m., New York City time, on Monday, June 29, 2009, unless extended or earlier terminated (the “Expiration Date”).
In addition to the consideration described above, holders of Notes validly tendered and accepted for purchase will receive accrued and unpaid interest on the Notes from the last interest payment date for the notes up to, but not including, the settlement date for the Notes. Settlement for all Notes validly tendered and accepted for purchase is expected to be on or about June 29, 2009.
Graphic Packaging may amend, extend or, subject to certain conditions, terminate the tender offer. Except in certain circumstances as required by law, Notes tendered may not be withdrawn. The Offer to Purchase dated June 1, 2009 and the related Letter of Transmittal set forth a complete description of the terms and conditions of the tender offer. Holders are urged to read the Offer to Purchase and Letter of Transmittal carefully before making any decision with respect to the tender offer. The Offer to Purchase and related Letter of Transmittal were distributed to holders beginning June 1, 2009.
Graphic Packaging has retained Banc of America Securities LLC as the exclusive dealer manager in connection with the tender offer. Graphic Packaging has retained Global Bondholder Services Corporation to serve as the depository agent and information agent for the tender offer. Questions regarding the tender offer and requests for documents may be directed to Banc of America Securities LLC, Global Debt Advisory Services, at (888) 292-0070 (U.S. toll-free) and (980) 388-9217 (collect). Copies of the Offer to Purchase and related Letter of Transmittal may also be obtained from the information agent, Global Bondholder Services Corporation at (866) 795-4500 (U.S. toll-free) and (212) 430-3774 (collect).
This press release shall not constitute an offer to purchase or a solicitation of an offer to purchase with respect to any securities. Any such offer or solicitation will be made only by means of the Offer to Purchase dated June 1, 2009.