BWAY Holding readies loan lender call for Monday morning

By Sara Rosenberg

New York, March 10 – BWAY Holding Co. will hold a lender call at 11 a.m. ET on Monday, according to a market source.

Bank of America Merrill Lynch, Goldman Sachs Bank USA, BMO Capital Markets Corp. and Citigroup Global Markets Inc. are the leads on the deal.

A few weeks ago, BWAY’s parent company, Stone Canyon Industries LLC, announced plans to acquire Mauser Group NV for $2.3 billion from Clayton, Dubilier & Rice.

A $945 million bridge loan backing a portion of the financing for the transaction allocated earlier this month at pricing of Libor plus 575 basis points with a 1% Libor floor.

The spread on the bridge facility steps up by 50 bps at the end of each three-month anniversary of the closing date.

The bridge facility expires on the earlier of Aug. 7 and the consummation of the acquisition.

BWAY is an Atlanta-based manufacturer of rigid metal and plastic containers. Mauser is an Oosterhout, The Netherlands-based supplier of rigid packaging products and services for industrial use.

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