ProAmpac to launch $1.12 billion credit facility on Wednesday

By Sara Rosenberg

New York, Oct. 27 – ProAmpac set a bank meeting in New York for Wednesday to launch a $1.12 billion credit facility, according to a market source.

Antares Capital is the lead arranger on the deal.

The facility consists of a $75 million five-year revolver, an $830 million seven-year covenant-light first-lien term loan and a $215 million eight-year second-lien term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Pritzker Group Private Capital from Wellspring Capital Management.

Closing is expected in November.

ProAmpac is a Cincinnati-based flexible packaging company.

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