GE Capital Provides $75 Million in Exit Financing for Caraustar
Friday, August 21, 2009
Caraustar Industries, a manufacturer of recycled paperboard and converted paperboard products, said it emerged from Chapter 11 as a newly reorganized private company eliminating about $135 million in debt. The company operated in bankruptcy for 82 days.
In connection with its emergence from bankruptcy, Caraustar said it has closed on a new $75 million revolving credit facility with GE Capital, which provides the company with more than adequate liquidity to meet all its working capital needs, including any future capital expenditures. The company has made no borrowings against the new facility.
Atlanta, GA-based Caraustar Industries is an integrated manufacturer of 100% recycled paperboard and converted paperboard products.
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