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Multi Packaging to launch pound, euro term loan B’s on Wednesday
By Sara Rosenberg
New York, Dec. 1 – Multi Packaging Solutions is scheduled to hold a conference call at 10 a.m. ET on Wednesday to launch a £143.6 million term loan B due September 2020 and a €170.9 million term loan B due September 2020, according to a market source.
Credit Suisse is the lead bank on the deal.
The pound sterling term loan is talked at Libor plus 425 basis points to 450 bps with a 1% Libor floor and a par offer price, and the euro term loan B is talked at Euribor plus 375 bps to 400 bps with a 1% floor and a par offer price, the source said.
Both term loans have 101 soft call protection for six months.
Proceeds will be used to refinance an existing pound sterling term loan priced at Libor plus 500 bps with a 1% Libor floor and a euro term loan B priced at Euribor plus 450 bps with a 1% floor.
Commitments are due on Dec. 9, the source added.
Multi Packaging is a New York-based provider of value-added packaging services.
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