Appleton Papers announced that it has entered into a $435 million senior secured credit facility, which includes a $335 million six-year first lien term loan facility (the "term loan") and a $100 million five-year revolving credit facility (the "revolving credit facility"). The senior secured credit facility has been established pursuant to a first lien credit agreement by and among Appvion, Paperweight Development Corp. and other guarantor parties thereto, Jefferies Finance LLC, as joint lead arranger, joint book runner and administrative agent, Fifth Third Bank, as joint lead arranger, joint book runner, revolver agent and swing line lender and L/C lender, KeyBank National Association, as joint lead arranger, joint book runner and documentation agent and the other lenders party thereto.

Appvion used a portion of the term loan proceeds to fund amounts payable under the tender offer and consent solicitation and to pay related fees and expenses.  Going forward, the proceeds of the revolving credit facility will be used to provide ongoing working capital and for other general corporate purposes of Appvion and its subsidiaries.

Appvion creates product solutions through its development and use of coating formulations, coating applications and Encapsys microencapsulation technology. Appvion produces thermal, carbonless and security papers and Encapsys products.  Appvion, headquartered in Appleton, Wisconsin, has manufacturing operations in Wisconsin, Ohio and Pennsylvania, employs approximately 1,700 people and is 100 percent employee-owned.