Ravago to launch $323 million term loan B repricing on Thursday

By Sara Rosenberg

New York, Jan. 18 – Ravago Holdings America Inc. will hold a call on Thursday to launch a repricing of its $323 million covenant-light term loan B, according to a market source.

Wells Fargo Securities LLC is the lead bank on the deal.

The repriced loan is talked at Libor plus 325 basis points with no floor and a par issue price, the source said.

Included in the repriced loan is 101 soft call protection for six months.

The repricing will take the term loan down from Libor plus 400 bps with a 1% Libor floor.

Commitments are due on Jan. 26, the source added.

Ravago is a provider of distribution, resale, compounding and recycling services for plastic and elastomeric raw materials markets.

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