CPG lifts term loan to $600 million, firms at SOFR plus 250 bps

By Sara Rosenberg

New York, April 25 – CPG International LLC (AZEK) upsized its seven-year term loan B to $600 million from $575 million and finalized pricing at SOFR+10 basis points CSA plus 250 bps, the low end of the 250 bps to 275 bps talk, according to a market source.

Also, the original issue discount on the term loan was revised to 99.25 from talk in the range of 98.5 to 99, the source said.

The term loan still has a 0.5% floor and 101 soft call protection for six months.

BofA Securities Inc., JPMorgan Chase Bank, Barclays, Jefferies LLC and TD Securities (USA) LLC are the leads on the deal.

Proceeds will be used to refinance an existing term loan and for general corporate purposes.

CPG is a designer and manufacturer of low-maintenance products focused on the outdoor living market.

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