Closing of US$400 million
Asset-Based Revolving Credit Facility
Kraków, Poland (March 31, 2023) – CANPACK Group announces that it has successfully closed on a committed five-year $400 million asset-based revolving credit facility with a consortium of leading banks. The new facility, secured by certain assets, replaces the existing 387 million Euro and 342 million Polish Zloty multicurrency revolving facility. In addition to replacing the existing facility, it will provide funding for general corporate and working capital purposes.
By replacing the existing credit facility with this new facility, CANPACK will have greater flexibility to address market conditions and its financial needs. Wells Fargo Bank acted as Joint Lead Arranger, Administrative and Collateral Agent. Together with CITIBANK N.A. as Joint Lead Arranger, lenders also include BNP Paribas, ING Capital LLC & J.P. Morgan.