Charter Next Generation talks $250 million term loan B at 99.04 OID

By Sara Rosenberg

New York, Feb. 13 – Charter Next Generation Inc. launched on Monday its fungible $250 million incremental term loan B with price talk of SOFR+CSA plus 375 basis points with a 0.75% floor and an original issue discount of 99.04, according to a market source.

CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

KKR Capital Markets is the left lead on the deal.

Commitments are due at 5 p.m. ET on Thursday, the source added.

Proceeds will be used to repay some senior unsecured PIK notes.

In connection with this transaction, pricing on the company’s existing term loan B will transition to SOFR from Libor.

Charter Next Generation is a Milton, Wis.-based producer of specialty films used in flexible packaging and other end-use markets.

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