Caraustar Industries, Inc. Reaches Agreement to Extend Revolving Credit Facility; Postpones Annual Shareholder Meeting
May 15 2009 - 3:11PM
PR Newswire (US)
ATLANTA, May 15 /PRNewswire-FirstCall/ -- Caraustar Industries,
Inc. (NASDAQ:CSAR) today announced that on May 8, 2009, the company
amended its Senior Credit Facility, originally dated March 30,
2006, with Bank of America, N.A. The Eighth Amendment to the
Amended and Restated Credit Agreement extends until May 15, 2009
the notification date at which time the company was required to
advise participating lenders of its plan to refinance or defease
the Senior Notes in the amount of approximately $190 million,
maturing on June 1, 2009. Subsequently, on May 15, 2009 the lenders
further extended the notification date to June 1, 2009.
Additionally, the company's announced that its Annual Shareholders'
Meeting, which was originally scheduled for Wednesday, May 20,
2009, has been postponed until further notice. Caraustar
Industries, Inc. is one of North America's largest integrated
manufacturers of 100% recycled paperboard and converted paperboard
products. The company is a socially responsible corporation, is
committed to environmentally sound practices and is dedicated to
providing customers with outstanding value through innovative
products and services. Caraustar has developed its leadership
position in the industry through diversification and integration
from raw materials to finished products. Caraustar serves the four
principal recycled boxboard product end-use markets: tubes and
cores; folding cartons; gypsum facing paper and specialty
paperboard products. For additional information on Caraustar,
please visit the company's website at http://www.caraustar.com/.
CONTACT: Ronald J. Domanico Senior Vice President and Chief
Financial Officer (770) 948-3101 DATASOURCE: Caraustar Industries,
Inc. CONTACT: Ronald J. Domanico, Senior Vice President and Chief
Financial Officer of Caraustar Industries, Inc., +1-770-948-3101
Web Site: http://www.caraustar.com/
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