Aldabra announces its proposed of acquisition Boise Cascade
Jan 11, 2008. Aldabra 2 Acquisition announced that Moody’s Investment Corporation and Standard & Poor’s have assigned ratings in connection with the financing for its proposed acquisition of the packaging and paper manufacturing businesses of Boise Cascade, L.L.C.
Jan 11, 2008. /Lesprom Network/. Aldabra 2 Acquisition announced that Moody’s Investment Corporation and Standard & Poor’s have assigned ratings in connection with the financing for its proposed acquisition of the packaging and paper manufacturing businesses of Boise Cascade, L.L.C.
Boise Cascade is a producer of packaging products and uncoated free sheet paper. Aldabra will change its name to Boise Inc. (“Boise”) after the acquisition.
On September 7, 2007, Aldabra announced its proposed acquisition of Boise Cascade’s paper and packaging assets for $1.625 billion. Goldman Sachs Credit Partners LP and Lehman Brothers, Inc. have jointly provided a commitment letter for 100% of the debt financing related to Aldabra’s proposed acquisition. The $1.175 billion financing commitment consists of $925 million of senior secured term loan facilities and a $250 million senior secured revolving credit facility to fund part of the cash portion of the acquisition price.
Aldabra 2 Acquisition Corp., a special purpose acquisition corporation, was formed to acquire an unidentified operating business.
Boise Cascade is a leading North American producer of packaging products and uncoated free sheet paper.