Pregis launches $150 million incremental term loan at 99.52 OID

By Sara Rosenberg

New York, Feb. 12 – Pregis (Pregis Topco LLC) was scheduled to hold a lender call at 1 p.m. ET on Monday to launch a fungible $150 million incremental first-lien term loan due Aug. 1, 2026 that is talked with an original issue discount of 99.52, according to a market source.

Pricing on the term loan is SOFR plus 375 basis points with a step-up to SOFR plus 400 bps at more than 4.35x senior secured first-lien leverage and a 0% floor.

Amortization on the term loan is 1% per annum.

UBS Investment Bank, Barclays, Deutsche Bank Securities Inc., Morgan Stanley Senior Funding Inc. and Wells Fargo Securities LLC are the arrangers on the deal.

Commitments are due at 2 p.m. ET on Tuesday, the source added.

Proceeds will be used to fund a distribution to shareholders.

Pregis is a Chicago-based supplier of packaging systems, consumables, specialty films and surface protection films.

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