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Multi Packaging finalizes spreads on pound, euro term loan B’s
By Sara Rosenberg
New York, Dec. 10 – Multi Packaging Solutions firmed pricing on its £143.6 million term loan B due September 2020 at Libor plus 450 basis points, the wide end of the Libor plus 425 bps to 450 bps talk, and on its €170.9 million term loan B due September 2020 at Euribor plus 375 bps, the tight end of the Euribor plus 375 bps to 400 bps talk, according to a market source.
As before, the term loans have a 1% floor, a par offer price and 101 soft call protection for six months.
Credit Suisse is the lead bank on the deal.
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.
Multi Packaging is a New York-based provider of value-added packaging services.
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