TricorBraun to launch $555 million credit facility on Wednesday

By Sara Rosenberg

New York, April 5 - TricorBraun is set to hold a bank meeting on Wednesday to launch a proposed $555 million credit facility, according to a market source.

GE Capital Markets and UBS Securities LLC are the lead banks on the deal.

The facility consists of a $75 million revolver and a $480 million term loan B, the source said.

Price talk on the B loan is floating around at Libor plus 425 basis points to 450 bps with a 1.25% Libor floor and an original issue discount of 99, the source added.

Proceeds will be used to refinance existing debt and fund a dividend.

TricorBraun is a St. Louis-based designer and deliverer of rigid packaging.

© 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.