#United States #Exchange Offers #Oak Brook #Mauser Packaging #Consent Solicitations

Mauser Packaging Solutions Extends Tender Premium for Exchange Offers

Mauser Packaging Solutions Holding Company has updated the market on its ongoing exchange offers as of November 21, 2025. The company has made significant strides in addressing its financial obligations and has extended its early tender premium through December 9, 2025. This strategic decision comes in light of the overwhelming participation from stakeholders, with almost 98% of the outstanding principal amount in the exchange offers already tendered.

Key Developments in Mauser's Exchange Offers

As of the specified early tender deadline, Mauser reported that approximately $2.64 billion in Senior First Lien Notes and around $1.29 billion in Senior Secured Second Lien Notes had been offered by its investors. These notes are critical for Mauser's capital structure—facilitating the transition from current obligations to a new debt framework that allows for an extended repayment schedule. The exchange offers aim to transition from older notes due in 2027 to new notes with maturity extended to 2030, thereby providing the company with substantial leverage in managing its debt.

Mauser notified the market that, with the level of consents it has received, it will be able to carry out the proposed amendments to the existing indenture governing the Old Notes. This is a pivotal step that enables the firm to proceed with its planned financial restructuring. The consent solicitations were essential for garnering the necessary approval from noteholders, allowing Mauser to optimize its capital structure effectively.

Details of the Tender Offers

The offers incorporate a premium incentive for early participation, with qualified tendering holders eligible to receive a $50 increase in the total consideration for New Notes offered. Even holders who tender their notes post-initial deadline, up until December 9th, will still qualify for the applicable total consideration of $1,000 New Notes per $1,000 of Old Notes.

The minimum tender condition has been met, which stipulates that at least 80% of the applicable Old Notes must be validly tendered for the exchange offers to proceed. This important criteria have been positively met, and Mauser anticipates initiating the settlement process shortly after the expiration time—currently eyed for November 26, 2025.

Strategic Advantages of the New Facilities

In tandem with the exchange offers, Mauser is modifying its credit agreement governing the term loan facility, creating a $1 billion new term loan facility and extending the maturity of its revolving credit agreement. Such steps not only ensure liquidity but also position the company favorably for upcoming capital needs without undue pressure from upcoming debt maturities in the near term. This development signals robust financial management as Mauser strategically navigates a transitioning market environment.

Forward-Looking Statements and Implications

It's essential to note that while these exchanges promise to enhance Mauser’s financial flexibility, the forward-looking statements regarding completion timelines and performance adjustments reflect uncertainties inherent in these types of financial maneuvers. The next critical phase lies in fulfilling the terms as set forth in the Offering Memorandum while actively monitoring industry conditions that could influence these projections.
The company confirms that the New Notes will be exclusively issued to qualified institutional buyers or non-U.S. persons, which underscores the need for adherence to SEC regulations during such arrangements.

Conclusion

Mauser Packaging Solutions' proactive approach in extending the early tender premium emphasizes their commitment to providing value to investors while effectively managing their debt portfolio. As these exchange offers continue to unfold, stakeholders are advised to remain informed of further developments as they play an integral role in the company’s financial future. The strategic adjustments signify not just a shift in debt maturity but also an effort towards sustained operational growth and stability.