| Schedule of Long-term Debt |
Long-Term Debt is comprised of the following:
| | | | | | | | | | | | | In millions | | September 30, 2025 | December 31, 2024 | Senior Notes with interest payable semi-annually at 1.512%, effective rate of 1.51%, payable in 2026(a) | | $ | 400 | | $ | 400 | | Senior Notes with interest payable semi-annually at 4.75%, effective rate of 4.77%, payable in 2027(a) | | 300 | | 300 | | Senior Notes with interest payable semi-annually at 3.50%, effective rate of 3.52%, payable in 2028(a) | | 450 | | 450 | | Senior Notes with interest payable semi-annually at 3.50%, effective rate of 3.52%, payable in 2029(a) | | 350 | | 350 | | Senior Notes (€290 million) with interest payable semi-annually at 2.625%, effective rate of 2.64%, payable in 2029(a) | | 341 | | 300 | | Senior Notes with interest payable semi-annually at 3.75%, effective rate of 3.78%, payable in 2030(a) | | 400 | | 400 | | Senior Notes with interest payable semi-annually at 6.375% effective rate of 6.45%, payable in 2032(a) | | 500 | | 500 | | Green Bonds, net of unamortized premium with interest payable at 4.00%, effective rate of 1.71%, payable in 2026(a) | | 102 | | 104 | | Green Bonds, net of unamortized premium with interest payable at 5.00%, effective rate of 4.66%, payable in 2030(a) | | 100 | | — | | Senior Secured Term Loan A-2 Facility with interest payable quarterly at 2.67%, effective rate of 2.68% payable in 2028(a) | | 425 | | 425 | | Senior Secured Term Loan A-3 Facility with interest payable monthly payable at floating rates (5.35% at September 30, 2025), effective rate of 5.35%, payable in 2028(a) | | 250 | | 250 | | Senior Secured Term Loan A-5 Facility with interest payable monthly payable at floating rates (5.32% at September 30, 2025), effective rate of 5.33%, payable in 2029(a) | | 50 | | 50 | | Senior Secured Term Loan A-6 Facility with interest payable monthly payable at floating rates (5.37% at September 30, 2025), effective rate of 5.38%, payable in 2029(a) | | 200 | | 200 | | Senior Secured Term Loan A-1 Facilities with interest payable at various dates at floating rates (6.13% at September 30, 2025) payable through 2029(a) | | 488 | | 497 | | Senior Secured Term Loan Facility (€200 million) with interest payable at various dates at floating rates (3.49% at September 30, 2025) payable through 2029(a) | | 235 | | 207 | | Senior Secured Revolving Credit Facilities with interest payable at floating rates (5.93% at September 30, 2025) payable in 2029(a)(b) | | 1,185 | | 610 | | | Finance Leases | | 142 | | 145 | | | Other | | 2 | | 3 | | | Total Long-Term Debt Including Current Portion | | 5,920 | | 5,191 | | | Less: Current Portion | | 425 | | 21 | | | Total Long-term Debt Excluding Current Portion | | 5,495 | | 5,170 | | | Less: Unamortized Debt Deferred Issuance Costs | | 23 | | 25 | | | Total Long-Term Debt | | $ | 5,472 | | $ | 5,145 | |
(a) Guaranteed by Graphic Packaging International Partners, LLC, a Delaware limited liability company and a wholly-owned subsidiary of the Company ("GPIP") and certain domestic subsidiaries. (b) The year-to-date weighted average effective interest rates for the Company's Senior Secured Revolving Credit Facilities were 5.89% and 6.65% as of September 30, 2025 and December 31, 2024, respectively.
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| Schedule of Credit Facilities |
At September 30, 2025, the Company and its U.S. and international subsidiaries had the following commitments, amounts outstanding and amounts available under revolving credit facilities:
| | | | | | | | | | | | | In millions | Total Commitments | Total Outstanding | Total Available(a) | | Senior Secured Domestic Revolving Credit Facility | $ | 1,900 | | $ | 1,094 | | $ | 804 | | | Senior Secured International Revolving Credit Facility | 211 | | 91 | | 120 | | | Other International Facilities | 54 | | 23 | | 31 | | | Total | $ | 2,165 | | $ | 1,208 | | $ | 955 | |
(a) In accordance with its debt agreements, the Company's availability under its revolving credit facilities has been reduced by the amount of standby letters of credit issued of $2 million as of September 30, 2025, which expire at various dates through 2025 unless extended. The Company also had $31 million of standby letters of credit issued under a separate unsecured facility as of September 30, 2025, which do not have any impact on the Company's availability under its revolving credit facilities. The standby letters of credit are primarily related to the Company's workers' compensation programs and project development activities.
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