Glatfelter's Strategic Transformation
Near Term Financial Priorities
Available
Liquidity
Focused on maximizing financial flexibility and maintaining access to ample liquidity
$400 million revolving credit facility for liquidity purposes virtually undrawn (1)
Leverage
Expectations and
Conservatism
Commitment to de-leveraging post-acquisition via combination of modest EBITDA
growth, achievement of transaction synergies and voluntary debt prepayment
Term Loan A with status quo maturity (Feb-2024) acts as source of prepayable debt
Demonstrated meaningful deleveraging after major acquisitions (Concert, Dresden,
Steinfurt)
Continue required capital expenditures to efficiently maintain operating assets
Acquisition integration, Spunlace turn-around and synergy delivery will be key
(1) After giving effect to ~$7.0 million of outstanding undrawn stand-by letters of credit.
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