Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for Hilex Poly Co., LLC > News item |
Hilex cuts B loan to $135 million, ups spread to Libor plus 900 bps
By Sara Rosenberg
New York, Oct. 21 - Hilex Poly Co. downsized its term loan B (B3/B) to $135 million from $160 million and increased pricing to Libor plus 900 basis points from Libor plus 700 bps, according to a market source.
In addition, the maturity of the term loan B was shortened to five years from six years, the source said.
As before, the loan has a 2% Libor floor and is being offered at an original issue discount of 98.
Amortization is 10% per annum.
Commitments are due at noon ET on Wednesday.
Deutsche Bank and GE Capital are the lead banks on the deal.
Proceeds will be used to refinance existing debt and fund a dividend.
Hilex Poly is a Hartsville, S.C.-based producer of recycled content plastic bags and recycler of plastic bags and film.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.