Anchor Glass Container Corporation Successfully Completes Refinancing
Anchor Glass Container Corporation has successfully strengthened its balance sheet by amending and extending its term loan credit agreements and asset-based revolving credit facility. As a result of the transaction the company will have meaningful incremental liquidity.
The transaction was executed with solid support across the entire capital structure, including the holders of over 99% of its first-lien term loans and over 95% of its second-lien term loans, 100% of asset-based revolving credit facility lenders, and its equity sponsor CVC Capital Partners.
“The successful extension of our credit facilities is a testament to our strong relationships with key lenders and our equity owners, and their confidence in the continuing success of Anchor Glass,” said CEO Nipesh Shah. “Anchor Glass will continue its journey of investing in people, processes, and assets.”
Anchor employs approximately 1,700 people and operates six glass manufacturing facilities located in Florida, Georgia, Indiana, Minnesota, New York and Oklahoma.
