TricorBraun changes $180 million incremental term loan OID to 99

By Sara Rosenberg

New York, Jan. 10 – TricorBraun Holdings Inc. tightened the original issue discount on its fungible $180 million covenant-lite incremental first-lien term loan due March 3, 2028 (B2/B-) to 99 from 98.65, 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 is the left lead arranger on the deal.

Recommitments are due at noon ET on Tuesday, the source added.

Proceeds will be used to repay ABL borrowings.

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

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