Packaging Dynamics to get new credit facility with bond offering

By Sara Rosenberg

New York, Jan. 18 - Packaging Dynamics Corp. plans on getting a new senior secured credit facility, according to a news release.

Also, the company will sell $400 million of senior secured notes to repay its existing senior secured credit facility in full, to redeem all of its senior subordinated notes due 2016 and to pay a dividend to stockholders.

Completion of the notes is conditioned on the new credit facility.

Packaging Dynamics is a flexible packaging and specialty papers company.

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