Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Clearwater Paper Corp. > News item |
Clearwater Paper talks $300 million term B at Libor plus 325-350 bps
By Sara Rosenberg
New York, July 10 – Clearwater Paper Corp. launched on Wednesday its $300 million seven-year term loan B (Ba1/BB+) with price talk of Libor plus 325 basis points to 350 bps with a 0% Libor floor and an original issue discount of 99.5, according to a market source.
The 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.
Commitments are due on July 24.
Proceeds will be used to refinance borrowings under an existing revolving credit facility.
In addition to the term loan, the company is putting in place a new $250 million asset-based revolver for working capital and liquidity needs.
Clearwater Paper is a Spokane, Wash.-based pulp and paper product manufacturer.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.