Consolidated Container to launch $730 million in loans on Thursday

By Sara Rosenberg

New York, April 25 – Consolidated Container Co. is scheduled to hold a bank meeting on Thursday to launch $730 million in credit facilities, according to a market source.

Barclays is the left lead on the deal.

The facilities include a $125 million ABL revolver and a $605 million senior secured first-lien term loan B, the source said.

Proceeds will be used to help fund the acquisition of the company by Loews Corp. from Bain Capital Private Equity for about $1.2 billion, subject to customary purchase price adjustments.

Consolidated Container will be a part of a newly created segment called Loews Packaging Group.

Closing is expected this quarter, subject to customary conditions.

Consolidated Container is an Atlanta-based rigid plastic packaging manufacturer.

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