Printpack launches term loan B repricing at Libor plus 325-350 bps

By Sara Rosenberg

New York, Jan. 24 – Printpack Inc. held a lender call on Tuesday to launch a repricing of its $274.3 million term loan B due 2023 that is talked at Libor plus 325 basis points to 350 bps with a 1% Libor floor and a par issue price, according to a market source.

The repriced term loan has 101 soft call protection for six months, the source said.

J.P. Morgan Securities LLC is the lead bank on the deal.

The repricing will take the term loan down from Libor plus 400 bps with a 1% Libor floor.

Printpack is an Atlanta-based manufacturer of flexible and specialty rigid packaging.

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