Wausau Paper launches $175 million term loan at Libor plus 550 bps

By Sara Rosenberg

New York, July 8 – Wausau Paper Corp. launched on Tuesday a $175 million six-year term loan (B) with price talk of Libor plus 550 basis points with a 1% Libor floor and an original issue discount of 98, according to a market source.

The loan has 101 soft call protection for one year, the source said.

Bank of America Merrill Lynch and BMO Capital Markets are the lead banks on the deal.

Proceeds will be used to refinance notes.

The company is also negotiating a new $50 million secured revolver to replace its $80 million unsecured revolver.

Wausau Paper is a Mosinee, Wis.-based paper company.

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