Multi Packaging/Chesapeake to launch $50 million term loan on Friday

By Sara Rosenberg

New York, March 27 - Multi Packaging Solutions Inc./Chesapeake Services Ltd. will hold a call at 10 a.m. ET on Friday to launch a $50 million incremental term loan, according to a market source.

Barclays is the bookrunner on the deal.

Proceeds will be used to fund contemplated acquisitions.

The company's existing $280 million term loan due Sept. 30, 2020 is priced at Libor plus 325 basis points with a 1% Libor floor and has 101 soft call protection through Aug. 14, 2014.

Multi Packaging/Chesapeake is a provider of value-added packaging solutions.

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