Kloeckner Pentaplast shops loan amendment to migrate to SOFR

By Sara Rosenberg

New York, Aug. 2 – Kloeckner Pentaplast is seeking an amendment to its U.S. term loan and revolving credit facility to replace Libor with SOFR, according to a market source.

The loan would have CSA of 10 basis points one-month rate, 15 bps three-month rate and 25 bps six-month rate, the source said.

JPMorgan Chase Bank is the lead on the deal.

Consents are due at noon ET on Wednesday, the source added.

Lenders are being offered a 5 bps amendment fee.

Kloeckner Pentaplast is a Montabaur, Germany-based manufacturer of rigid plastic film solutions.

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