Tekni-Plex tightens $125 million incremental term loan OID to 93

By Sara Rosenberg

New York, July 19 – Tekni-Plex Inc. (Trident TPI Holdings Inc.) changed the original issue discount on its non-fungible $125 million incremental first-lien term loan due Sept. 17, 2028 (B2/B-) to 93 from 92, according to a market source.

Pricing on the incremental term loan remained at SOFR plus 525 basis points with a 0.5% floor.

The incremental term loan still has 101 soft call protection for six months.

Credit Suisse Securities (USA) LLC is the arranger on the deal.

Commitments were scheduled to be due at noon ET on Tuesday, accelerated from 5 p.m. ET on Tuesday, the source added.

Proceeds will be used to fund a tuck-in acquisition.

Tekni-Plex is a Wayne, Pa.-based provider of specialty packaging solutions.

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