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Sabert launches $458 million term loan B at SOFR plus 375 bps
By Sara Rosenberg
New York, Nov. 29 – Sabert Corp. was scheduled to hold a lender call at 2 p.m. ET on Wednesday to launch a $458 million covenant-lite term loan B due Dec. 10, 2026 that is talked at SOFR+CSA plus 375 basis points with a 1% floor and a par issue price, according to a market source.
CSA is ARRC standard of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.
The term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.
Wells Fargo Securities LLC is the left lead arranger on the deal.
Commitments are due at noon ET on Tuesday, the source added.
Proceeds will be used to reprice an existing term loan B due Dec. 10, 2026 down from SOFR+ARRC CSA plus 450 bps with a 1% floor.
Sabert is a Sayreville, N.J.-based food packaging company.
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