Mar 25, 2013. /Lesprom Network/. Graphic Packaging International, Inc. has entered into an agreement to sell $425 million aggregate principal amount of its senior unsecured notes due 2021 (the "Senior Notes") in a registered public offering. The Senior Notes will bear interest at an annual rate of 4.75% and will be issued at par. Graphic Packaging expects to close the offering on April 2, 2013, as the company said in a press release received by Lesprom Network.

The Senior Notes will be guaranteed by Graphic Packaging Holding Company and Graphic Packaging Corporation as well as by certain of Graphic Packaging's domestic subsidiaries which have guaranteed obligations under its senior credit facilities and its existing notes.

Graphic Packaging estimates that the net proceeds from this offering will be approximately $418.8 million, after deducting the underwriters' discount. The net proceeds from the offering will be used, together with cash on hand, to refinance through a redemption in June 2013 all $425 million aggregate principal amount of Graphic Packaging's 9.50% senior notes due 2017.

BofA Merrill Lynch, J.P. Morgan, Citigroup, Goldman, Sachs & Co. and SunTrust Robinson Humphrey are acting as joint book-running managers for the offering and PNC Capital Markets, Rabo Securities and Regions Securities LLC are serving as co-managers.

Graphic Packaging International, Inc., a subsidiary of Graphic Packaging Holding Company, is a leading provider of packaging solutions for a wide variety of products to food, beverage and other consumer products companies. Graphic Packaging is one of the largest producers of folding cartons and holds a leading market position in coated-unbleached kraft, coated-recycled boxboard and specialty packaging.