...- ProAmpac PG Intermediate LLC is pursuing a $3.6 billion debt and equity recapitalization that includes $1.3 billion of new equity invested and Pritzker Private Capital maintaining control of company. - As part of the recapitalization, the company plans to expand its revolving credit facility to $200 million (undrawn at close) and issue $114.4 million of incremental first-lien term loan and $360 million of second-lien notes (unrated). - Proceeds from the equity investment and incremental debt will be used to fund the recapitalization, fully redeem its second-lien term loan, pay down revolver borrowings, and fund acquisitions. - We are affirming our 'B-' issuer credit rating. The outlook is stable. - At the same time, we are affirming our 'B-' issue-level rating and '3' recovery rating on the company's pro forma senior secured credit facilities, which comprise a $200 million revolving credit facility and $1.465 billion first-lien term loan. - The stable outlook reflects our expectation...
