Newark's $186 million refinancing completed; Fusion upgrades CRB mill

摘要

Newark Group completed a $186 million refinancing that consisted of an undrawn $50 million ABL Revolving Credit Facility, an $80 million 1st Lien Term Loan, and a $56 million 2nd Lien Term Loan. The company said the refinancing is a vote of confidence in its strategic vision, and is another step in its "operational and financial transformation." "This is a significant enhancement for the Newark Group. It permits the company to invest in equipment, technology and talent," said CEO Frank Papa, in a release. "The refinancing increases the countless capabilities in paperboard design and functionality that we can offer our customers and vendors."