| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Axilone > News item |
Axilone updates first- and second-lien term loan sizes, pricing
By Sara Rosenberg
New York, Feb. 7 Axilone upsized its seven-year first-lien term loan to 290 million equivalent from 265 million and downsized its 7.5-year second-lien term loan to 80 million from 90 million, according to a market source.
Also, the total 290 million first-lien term loan now includes a carve-out for a 45 million equivalent U.S. tranche that is talked at Libor plus 400 basis points with a 0% Libor floor and an original issue discount of 99.5 to 99.75, the source said.
Meanwhile, pricing on the euro first-lien term loan was reduced to Euribor plus 375 bps from Euribor plus 400 bps and the discount talk was changed to a range of 99.75 to par from 99.5.
The euro first-lien term loan still has a 0% floor.
All of the first-lien term loan debt includes 101 soft call protection for six months.
Regarding the second-lien term loan, pricing remained at Euribor plus 775 bps with a 1% floor, while the discount firmed at 98 from talk in the 98 area, the source continued.
As before, the second-lien term loan is non-callable for one year, then at 102 in year two and 101 in year three.
The companys now 420 million of senior secured credit facilities, up from 405 million, also provide for a 50 million six-year revolver.
Commitments were scheduled to be due at 10:30 a.m. ET on Wednesday, the source added.
Barclays and RBC are the active bookrunners on the deal and mandated lead arrangers with Credit Suisse. Barclays is the administrative agent.
Proceeds will be used to finance the acquisition of the Ileos Group SAS and Ileos USA by Citic Capital Partners, refinance existing debt and pay related fees and expenses.
Axilone is a Paris-based manufacturer of plastic and metal packaging for the lipstick, fragrance and skin care segments.
© 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.