- Graphic Packaging Holding Company’s GPK subsidiary, Graphic Packaging International LLC, has agreed to offer $100 million of tax-exempt green bonds due 2061 with a mandatory purchase date of October 1, 2026.
- The offering is being executed through the Michigan Strategic Fund (MSF) Private Activity Bond Program.
- The Tax-Exempt Green Bonds will be issued at a price of $110.99 and will bear interest at an annual rate of 4.0%.
- The equivalent all-in yield will be 1.7%, and the interest income received by holders of the bonds will be exempt from federal and Michigan state income taxes but will be subject to the alternative minimum tax.
- Graphic Packaging expects to close the transaction on or about September 29, 2021.
- Price Action: GPK shares are trading lower by 0.35% at $20.08 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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