Lakeshore Recycling shops $123 million add-on term loan at 99.5 OID

By Sara Rosenberg

New York, Oct. 21 – Lakeshore Recycling Systems (LRS Holdings LLC) is talking its fungible $123 million add-on term loan due August 2028 with an original issue discount of 99.5, according to a market source.

Pricing on the add-on term loan is Libor plus 425 basis points with a 0.75% Libor floor.

The add-on term loan has 101 soft call protection until Feb. 28.

JPMorgan Chase Bank is the lead on the deal that launched with a call earlier this week.

Commitments are due at 5 p.m. ET on Oct. 26.

Proceeds will be used for general corporate purposes and acquisitions.

Lakeshore is a Morton Grove, Ill.-based recycling and waste diversion services provider.

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