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  • GE Corporate Lending Provides $95 Million to Support the Acquisition of U.S. Corrugated

    October 18th, 2006 No comments

    GE Commercial Finance – Corporate Lending recently announced that it has served as administrative agent for a $95-million cash flow credit facility to support the acquisition of US Corrugated (formerly known as Lin Pac, Inc.), a vertically integrated corrugated packaging producer, from LINPAC Group Limited, U.K. GE will also provide interest rate risk management products and services.

    GE Capital Markets was lead arranger of the facility, which consisted of a $30-million revolver, a $45-million term loan, and a $20-million second lien loan.

    “The GE team demonstrated a true understanding of the challenges and opportunities in the paper and packaging sector,” said Thomas Uleau, Chief Financial Officer, U.S. Corrugated. “They delivered what they promised, and structured the acquisition financing to help maximize liquidity and flexibility.”

    Added Allan Wieman, Paper, Packaging and Forest Products Industry Leader, GE Corporate Lending, “We are dedicated to understanding and serving the financing requirements of companies such as U.S. Corrugated, and plan to continue to innovate to meet their evolving needs.”

    Prior to this acquisition, U.S. Corrugated was called Lin Pac, Inc., a corrugated packaging manufacturer and supplier based in Atlanta, Georgia. The business primarily serves the South East U.S. packaging market producing recycled liner-board, corrugating medium, corrugated sheets, boxes and point-of-sale displays.

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