Mauser Packaging, formerly BWAY, selling $150 million four-year secured notes; books close Monday

Paul A. Harris

Portland, Ore., May 4 – Mauser Packaging Solutions Holding Co., formerly known as BWAY, seeks to place $150 million of senior first-lien notes due April 15, 2024, according to market sources.

Initial talk has the notes coming with an 8½% coupon at a discount, a trader said.

Credit ratings remain to be determined.

Books close at 1 p.m. ET on Monday.

BofA Securities Inc., Deutsche Bank Securities Inc., BMO Capital Markets Corp., Goldman Sachs & Co. LLC and Citigroup Global Markets Inc. are the joint bookrunners.

The Rule 144A and Regulation S for life notes become callable after one year at par plus 50% of the coupon.

The Oak Brook, Ill.-based supplier of rigid packaging products and services plans to use the proceeds for general corporate purposes.

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