MARIETTA, Ga., Aug. 4 /PRNewswire-FirstCall/ -- Graphic Packaging International, Inc., a wholly-owned subsidiary of Graphic Packaging Holding Company , and a leading provider of packaging solutions for a wide variety of products to food, beverage and other consumer products companies, announced today that it will redeem and prepay approximately $20 million in aggregate principal and interest of its 8.5% Senior Notes due 2011 (the "Notes") on September 4, 2009 (the "Redemption Date"), at a redemption price equal to 100% of the principal amount of the Notes redeemed, plus accrued and unpaid interest up to, but not including the Redemption Date. The company's senior secured credit agreement contains, among other exceptions to the restrictions on prepayment of the Notes, a $20 million basket for such redemptions.
Copies of the redemption notice will be mailed to all record holders of the Notes by U.S. Bank National Association, as trustee, under the indenture governing the Notes.
"I am pleased to be able to prepay a portion of these Notes. The redemption of these Notes demonstrates our continuing commitment to reducing the company's debt as quickly as possible." said David W. Scheible, President and Chief Executive Officer.
About Graphic Packaging International, Inc.
Graphic Packaging International, Inc., headquartered in Marietta, Georgia, is a leading provider of packaging solutions for a wide variety of products to food, beverage and other consumer products companies. The Company is one of the largest producers of folding cartons and holds a leading market position in coated-recycled boxboard and specialty bag packaging. The Company's customers include some of the most widely recognized companies in the world. Additional information about Graphic Packaging, its business and its products is available on the Company's web site at http://www.graphicpkg.com/.
Graphic Packaging International, Inc.
CONTACT: Investor Relations: Scott Wenhold, +1-770-644-3062, or Media:
Cathy Worthy, +1-770-644-3515, both of Graphic Packaging International, Inc.
Web Site: http://www.graphicpkg.com/
