Savage Enterprises to launch term loan B repricing on Wednesday

By Sara Rosenberg

New York, Feb. 4 – Savage Enterprises LLC is scheduled to hold a lender call at 11 a.m. ET on Wednesday to launch a repricing of its existing $885 million first-lien term loan B, according to a market source.

Morgan Stanley Senior Funding Inc. is the lead bank on the deal.

In connection with the repricing, the company will make a prepayment with asset sale proceeds from the recently announced Savage Inland Marine tank barge fleet sale to Kirby Corp. for $278 million, the source said.

Savage is a Salt Lake City-based supply chain provider.

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