Containers and Packaging
Company Overview of Reynolds Group Holdings Ltd.
Reynolds Group Holdings Limited manufactures and supplies consumer food, beverage, and foodservice packaging products worldwide. The company operates through five segments: Evergreen, Closures, Reynolds Consumer Products, Pactiv Foodservice, and Graham Packaging. The Evergreen segment provides fresh carton packaging products, such as fresh cartons, spouts, and filling machines for juice and milk markets; liquid packaging boards for other fresh beverage carton manufacturers; and coated groundwood paper products for catalogs, inserts, magazine, and commercial printing applications, as well as uncoated freesheet for use in envelope, specialty, and offset printing paper. The Closures segment man...
148 Quay Street
Founded in 2006
Key Executives for Reynolds Group Holdings Ltd.
Chief Executive Officer and Director
Chief Executive Officer of Pactiv Foodservice
Chief Executive Officer of Evergreen Packaging Business and Chief Executive Officer of Graham Packaging Business
Chief Executive Officer of Reynolds Consumer Products
Compensation as of Fiscal Year 2016.
Reynolds Group Holdings Ltd. Key Developments
Reynolds Group Holdings Limited Updates on Upsizing of New Incremental Term Loans Under Senior Secured Credit Facility and Redemptions of Outstanding Notes
Oct 5 16
Reynolds Group Holdings Limited reported that it is seeking to increase by $850 million, to a total of $1.35 billion, the aggregate principal amount of additional senior secured term loans to be incurred under its existing Senior Secured Credit Facility. The company intends to use the net proceeds of the Incremental Term Loans, together with available cash, to redeem or repurchase any and all outstanding 5.625% Senior Notes due 2016 and 9.875% Senior Notes due 2019, up to $500 million aggregate principal amount of outstanding 8.250% Senior Notes due 2021 and up to $350 million aggregate principal amount of outstanding 6.875% Senior Secured Notes due 2021, and to pay related fees and expenses.
Reynolds Group Holdings Limited Announces Incremental Term Loans Under Senior Secured Credit Facility and Redemptions of Outstanding Notes
Sep 26 16
Reynolds Group Holdings Limited announced that it is seeking to incur additional senior secured term loans under its existing Senior Secured Credit Facility in an aggregate principal amount of $500 million (the Incremental Term Loans). The company intends to use the net proceeds of the Incremental Term Loans, together with available cash, to redeem or repurchase outstanding 5.625% Senior Notes due 2016 and 9.875% Senior Notes due 2019 and to pay related fees and expenses.
Reynolds Group and Certain of its Subsidiaries Enters into an Amendment No. 10 and Incremental Assumption Agreement to its Senior Secured Term Loan and Revolving Credit Facilities
Aug 9 16
Reynolds Group and certain of its subsidiaries entered into an amendment no. 10 and incremental assumption agreement to its senior secured term loan and revolving credit facilities and incurred there under $1,973 million and $250 million of term loans and re-sized the revolving credit facility as a single facility of $302,300,000 with the ability to increase to $400 million. the amendment changes the applicable margin on borrowings to (i) 3.25% for euro currency U.S. term loans (or 3.00%, if the public corporate and public corporate family ratings of Reynolds group is rated b/b2 or higher by S&P and Moody’s, respectively), (ii) 3.75% for euro currency European term loans, (iii) 2.25% for any daily rate U.S. term loans (or 2.00%, if the public corporate and public corporate family ratings of Reynolds group is rated b/b2 or higher by S&P and Moody’s, respectively), (iv) 2.75% for daily rate European term loans, (v) 2.75% on Eurocurrency revolving loans and (vi) 1.75% for daily rate revolving loans. The libo rate will not be less than (x) 1.00% for any euro currency U.S. term loan and (y) 0% with respect to any euro currency European term loan or revolving loan. Concurrent with the effectiveness of the amendment, the borrowers under the credit agreement repaid in full the remaining term loan facilities under the existing credit agreement. Term loans drawn under the amended credit agreement have a maturity date of February 5, 2023 and the revolving credit facility has a maturity date of august 5, 2021. The amendment makes certain changes to the covenants contained in the existing credit agreement. the borrowers now have the ability to incur additional indebtedness, including the ability to incur (i) other senior secured notes or senior secured loans, if a total secured leverage ratio of 4:50 to 1:00 is met and (ii) unsecured indebtedness so long as a fixed charge coverage ratio of 2:00 to 1:00 is met. Furthermore, the amended credit agreement contains a maximum total secured leverage ratio covenant applicable under the revolving credit facility if the aggregate revolving credit exposure as of the last day of a fiscal quarter exceeds 35% of the commitments there under.
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