Multi-Color eyes $2.89 billion of debt for buyout by Platinum Equity

By Sara Rosenberg

New York, March 25 – Multi-Color Corp. has received a commitment for $1.5 billion of senior secured credit facilities and $1.39 billion of bridge loans to help fund its acquisition by Platinum Equity LLC and merger with WS Packaging Group, a portfolio company of Platinum Equity, according to a PREM14A filed with the Securities and Exchange Commission on Monday.

Bank of America Merrill Lynch and Deutsche Bank Securities Inc. are the leads on the debt.

The credit facilities consist of a $300 million revolver and a $1.2 billion term loan.

The bridge loans are split between a $650 million senior secured bridge loan and a $740 million senior unsecured bridge loan.

Other funds for the transaction will come from up to $500 million of equity.

Under the agreement, Multi-Color is being bought for $50.00 in cash per share. The transaction is valued at $2.5 billion including the assumption of $1.5 billion of debt.

Closing is expected by the third quarter, subject to Multi-Color shareholder approval, regulatory clearances and other customary conditions.

Multi-Color is a Cincinnati-based label maker. WS Packaging is a Green Bay, Wis.-based provider of labels and packaging solutions.

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