Southern Graphics sets $574 million term loan B at Libor plus 325 bps

By Sara Rosenberg

New York, June 7 – Southern Graphics Inc. firmed pricing on its $574 million covenant-light term loan B (B1/B) due Dec. 31, 2022 at Libor plus 325 basis points, the high end of the Libor plus 300 bps to 325 bps talk, according to a market source.

As before, the term loan has a 0% Libor floor, a par issue price and 101 soft call protection for six months.

Bank of America Merrill Lynch, J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. are the lead arrangers on the deal.

Proceeds will be used to refinance an existing term loan B priced at Libor plus 350 bps with a 0% Libor floor.

Southern Graphics is a Louisville, Ky.-based provider of design-to-print graphics services to the consumer products packaging industry.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.