Solo Cup launches $75 million second-lien term loan

By Sara Rosenberg

New York, March 17 - Solo Cup Co. held a conference call on Friday to launch its proposed $75 million secured second-lien term loan, a company spokesman told Prospect News on Friday.

Bank of America is the lead bank on the deal.

Proceeds from the new second-lien term loan will be used to reduce borrowings under the company's domestic revolver.

The company will need to amend its existing senior credit facility in order to allow for this new second-lien debt and expects to complete the amendment by the end of the month.

Solo Cup is a Highland Park, Ill., manufacturer of disposable food-service products.

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