Ravago Holdings firms $321 million term loan B at Libor plus 275 bps

By Sara Rosenberg

New York, Oct. 26 – Ravago Holdings America Inc. finalized pricing on its $321 million covenant-light term loan B due July 13, 2023 at Libor plus 275 basis points, the high end of the Libor plus 250 bps to 275 bps talk, according to a market source.

The loan still has no floor, a par issue price and 101 soft call protection for six months.

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

Commitments were scheduled to be due at the end of the day on Thursday, the source added.

Proceeds will be used to reprice an existing term loan B down from Libor plus 325 bps with no floor.

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

© 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.