Multi-Color amends facility, getting new $315 million term loan

By Sara Rosenberg

New York, Aug. 30 - Multi-Color Corp. amended its credit facility, providing for a new $315 million five-year term loan and extending the maturity of the existing term loan and revolver by five years, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

Pricing on the term loan, and the existing facility, is Libor plus 350 basis points. The spread can range from Libor plus 200 bps to 350 bps and the revolver commitment fee can range from 35 bps to 50 bps, based on leverage.

The new term loan is available until Nov. 30 to help fund the acquisition of York Label Group, an Omaha, Neb.-based label company, from Diamond Castle Holdings for about $356 million and to pay down revolver borrowings.

Closing on the acquisition is expected on Oct. 3.

The amendment was completed on Aug. 26.

Bank of America is the administrative agent on the deal and Westpac Banking Corp. is the Australian administrative agent.

Multi-Color is a Cincinnati-based label solutions company.

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