Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On September 3, 2026, Graphic Packaging International, LLC (“Graphic Packaging” or the “Company”), the primary operating subsidiary of Graphic Packaging Holding Company, entered into a loan agreement with the Mission Economic Development Corporation (“MEDC”) for the proceeds…
Graphic Packaging Holding Company (NYSE: GPK), headquartered in Atlanta, Georgia, designs and produces consumer packaging made primarily from renewable or recycled materials. An industry leader in innovation, the Company is committed to reducing the environmental footprint of consumer packaging. Graphic Packaging operates a global network of design and manufacturing facilities serving the world’s most widely recognized brands in food, beverage, foodservice, household and other consumer products.
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Item 2.03Item 2.03 - Creation of Direct Financial Obligation
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On September 3, 2026, Graphic Packaging International, LLC (“Graphic Packaging” or the “Company”), the primary operating subsidiary of Graphic Packaging Holding Company, entered into a loan agreement with the Mission Economic Development Corporation (“MEDC”) for the proceeds of the MEDC’s offering of $115.2 million aggregate principal amount of tax-exempt “green” bonds due 2064 with a mandatory purchase date of June 1, 2030 (the “Tax-Exempt Green Bonds”). The offering was executed through the MEDC Private Activity Bond Program.
The Tax-Exempt Green Bonds were issued at a premium of 2.677% and bear interest at an annual rate of 5.00%. Net proceeds will be approximately $116.2 million after underwriters’ discount and other fees and expenses. The equivalent all-in yield will be 4.17%. The Tax-Exempt Green Bonds will be special, limited obligations of the MEDC (as issuer) and will be payable from and secured by a pledge of payments to be made under the Loan Agreement by and between the MEDC and Graphic Packaging. The Company will use the net proceeds to pay down its higher cost senior secured revolving facility.
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