Pact Group has completed a $775 million debt (US$501.8 million) refinancing program in what may be one of its last announcements as a publicly-listed company.
The packaging company, which is facing delisting from the Australian Securities Exchange (ASX), said it had refinanced its senior and subordinated debt facilities, but this would have little impact on financial costs in the 2026 financial year (FY26).
Pact said it had entered into a senior debt facility totalling $700 million expiring in June 2028 and June 2030 and a subordinated debt facility of $75 million expiring in December 2030.
The facilities will replace all senior and subordinated debt, including facilities that were due to expire in January 2026.
Pact, 88% owned by billionaire Executive Chairman Raphael Geminder, has slightly reduced debt limits but FY26 finance costs were not expected to reduce materially.
“We are very pleased with the outcome of our refinancing arrangements. Near-term refinancing risk has been removed and we retain capacity to continue planned growth projects,” Managing Director and Group Chief Executive Officer Sanjay Dayal said in an ASX announcement.
“Pact appreciates the continued support from its long-term relationship banks and welcomes its new lenders.”
At an extraordinary general meeting on 12 June shareholders approved the delisting of the company, leaving minority shareholders who rejected a bid to privatise the packaging group with no secondary market for their shares.
Pact (ASX: PGH) shares closed unchanged at 76 cents on Tuesday, capitalising the company at $261.7 million.
