Multi Packaging/Chesapeake launches $50 million term loan at 99¾ OID

By Sara Rosenberg

New York, March 28 - Multi Packaging Solutions Inc./Chesapeake Services Ltd. launched on Friday its $50 million incremental term loan due Sept. 30, 2020 with original issue discount talk of 993/4, according to a market source.

The incremental loan is priced at Libor plus 325 basis points with a 1% Libor floor and has 101 soft call protection through Aug. 14, 2014, just like the existing term loan.

Commitments are due on Wednesday, the source said.

Barclays is the bookrunner on the deal.

Proceeds will be used to fund contemplated acquisitions.

Multi Packaging/Chesapeake is a provider of value-added packaging solutions.

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