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Mauser finalizes $792 million term loan B at SOFR plus 350 bps
By Sara Rosenberg
New York, April 8 – Mauser Packaging Solutions Holding Co. set pricing on its $792 million term loan B due April 15, 2027 (B2) at SOFR plus 350 basis points, the low end of the SOFR plus 350 bps to 375 bps talk, according to a market source.
Also, the issue price on the term loan firmed at par, the tight end of the 99.875 to par talk, the source said.
The term loan still has a 0% floor, 101 soft call protection for six months and no CSA.
BofA Securities Inc. is the arranger on the deal.
Proceeds will be used to reprice an existing $792 million term loan down from SOFR plus 400 bps with a 0% floor and extend the maturity by eight months.
Mauser is an Oak Brook, Ill.-based manufacturer and distributor of rigid metal, plastic and fiber containers, intermediate bulk containers and reconditioned packaging.
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