Hilex Poly talks $160 million six-year term loan at Libor plus 700 bps

By Paul A. Harris

St. Louis, Sept. 23 - Hilex Poly Co. gave spread talk for its $160 million six-year term loan at Libor plus 700 basis points, with a 2% Libor floor on Thursday, according to a market source.

Price talk is for an original issue discount of 98.

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 producer of recycled content plastic bags and recycler of plastic bags and film based in Hartsville, S.C.

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