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Hilex Poly lifts pricing on $135 million term B to Libor plus 925 bps
By Sara Rosenberg
New York, Nov. 5 - Hilex Poly Co. increased pricing on its $135 million five-year term loan B (B3/B) to Libor plus 925 basis points from Libor plus 900 bps and widened the original issue discount to 97 from 98, according to a market source.
Also, hard call protection of 104 in year one and 102 in year two was added to the loan, the source said.
Unchanged was the 2% Libor floor.
Amortization is 10% per annum.
Deutsche Bank and GE Capital are the lead banks on the deal.
Proceeds will be used to refinance existing debt and fund a dividend.
Hilex Poly is a Hartsville, S.C.-based producer of recycled content plastic bags and recycler of plastic bags and film.
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