Article 1.01. The conclusion of an important definitive agreement.
The new revolving credit agreement is a
Loans under the New Revolving Credit Agreement bear interest at the LIBOR rate or the prime rate plus the applicable margin described below. The agreement contains customary LIBOR replacement rate provisions. The applicable margin is determined on the basis of the public ratings of the long-term senior unsecured debt of PCA or the gross leverage ratio of PCA and ranges from (a) in the case of LIBOR loans, from 0.900% to 1.500% and (b) in the case of basic loans interest rate loans, from 0.000% to 0.500% for revolving credits.
The new revolving credit agreement contains customary and negative covenants, including limitations on liens, mergers and consolidations, sales of assets and debts of subsidiaries. The New Revolving Credit Agreement includes two financial covenants, a maximum leverage ratio and a minimum interest coverage ratio, each calculated on a consolidated basis.
PCA can prepay loans under the new revolving credit agreement at any time without premium or penalty.
Article 9.01. Financial statements and supporting documents.
10.1 Credit Agreement, dated
June 8, 2021between Packaging Corporation of Americaand the lenders and agents named therein 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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