Container Store talks $329 million term loan B at Libor plus 325 bps

By Sara Rosenberg

New York, Nov. 19 - The Container Store Inc. is talking its $329 million term loan B (B2) due April 2019 at Libor plus 325 basis points with a 1% Libor floor and a par offer price, according to sources.

The loan has 101 soft call protection for six months, sources said.

J.P. Morgan Securities LLC is the lead bank on the deal that launched with a call on Monday.

Proceeds will be used to reprice/refinance an existing term loan B from Libor plus 425 bps with a 1.25% Libor floor.

Container Store is a Coppell, Texas-based retailer of organization and storage products.

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