Ranpak Holdings Corp. Initiates Plans for Refinancing of Senior Secured Credit Facilities

Ranpak Holdings Corp. (NYSE: PACK) revealed on December 3, 2024, its intention to undertake a comprehensive process to refinance its existing senior secured credit facilities entirely with new senior secured credit facilities known as the “New Credit Facilities.” These new facilities are anticipated to entail a $410 million U.S. dollar-denominated first lien term facility and a $50 million revolving facility provided in U.S. dollars, Euros, and potentially other agreed-upon currencies. It is anticipated that UBS AG, Stamford Branch will act as the administrative agent for the New Credit Facilities.

The terms of this refinancing and specific details regarding the New Credit Facilities will be disclosed subsequent to the transaction’s finalization. It is crucial to note that this proposed refinancing is contingent upon market conditions and various other factors, with no absolute guarantee that it will be completed on favorable terms or executed at all.

The information included in this announcement, along with Exhibit 99.1, is being submitted solely for informational purposes and shall not be considered “filed” under the Securities Exchange Act of 1934 or incorporated by reference into any filings under the Securities Act of 1933 or the Securities Exchange Act of 1934 unless expressly stated by specific reference in such filings.

Additionally, in compliance with Regulation FD, no financial statements accompany this disclosure.

The upcoming developments in Ranpak’s refinancing plans hint at strategic shifts in the company’s financial structure, potentially influencing its operational scope and competitive positioning going forward. Investors and stakeholders are advised to monitor further updates and disclosures regarding this refinancing initiative.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Ranpak’s 8K filing here.

About Ranpak

Ranpak Holdings Corp., together with its subsidiaries, provides product protection solutions and end-of-line automation solutions for e-commerce and industrial supply chains in North America, Europe, and Asia. The company offers protective packaging solutions, such as void-fill protective systems that convert paper to fill empty spaces in secondary packages and protect objects under the FillPak brand; cushioning protective systems, which convert paper into cushioning pads under the PadPak brand; and wrapping protective systems that create pads or paper mesh to wrap and protect fragile items, as well as to line boxes and provide separation when shipping various objects under the WrapPak, Geami, and ReadyRoll brands, as well as cold chain products, which are used to provide insulation for goods.