Multi Packaging talking $215 million term loan at discount of 99

By Sara Rosenberg

New York, March 29 - Multi Packaging Solutions Inc. is offering lenders its $215 million six-year term loan at an original issue discount of 99, according to a market source.

Prior to Friday's bank meeting, guidance on the discount was circulating in the 98½ to 99 area.

As was originally expected, price talk on the term loan is Libor plus 425 basis points with a 1.75% Libor floor.

The company's $245 million credit facility (B2) also includes a $30 million five-year revolver that is being talked at Libor plus 400 bps with an upfront fee of 99, the source said.

Wells Fargo and UBS are the lead banks on the deal.

Proceeds will be used for a dividend recapitalization.

Multi Packaging is a New York-based entertainment packaging company.

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