TricorBraun changes $150 million incremental term loan OID to 99

By Sara Rosenberg

New York, Oct. 26 – TricorBraun Holdings Inc. revised the original issue discount on its fungible $150 million covenant-lite incremental first-lien term loan due March 3, 2028 (B2/B-) to 99 from 98.8, according to a market source.

Pricing on the incremental term loan is Libor plus 325 basis points with a 0.5% Libor floor, in line with existing term loan pricing.

Credit Suisse Securities (USA) LLC, Antares Capital, Nomura and UBS Investment Bank are the lead arrangers on the deal.

Recommitments were scheduled to be due at 1:30 p.m. ET on Tuesday, the source added.

Proceeds will be used for acquisition financing.

TricorBraun is a St. Louis-based provider of packaging products.

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