Topps sets spread on $125 million term loan at Libor plus 525 bps

By Paul A. Harris

Portland, Ore., Sept. 30 – Topps Co. Inc. set the margin on its $125 term loan B 24-month extension at a 525 basis point spread to Libor, according to a market source.

The spread on the existing loan is 600 bps.

The extension (B1/B-) matures in April 2022.

Deutsche Bank Securities Inc., JP Morgan and Guggenheim are the bookrunners.

The term loan has a maximum first-lien net leverage covenant of 4.5x.

Topps is a producer of confectionery products and a brand marketer of sports & entertainment cards, products and digital apps.

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