TricorBraun launches $552 million credit facility repricing to lenders

By Sara Rosenberg

New York, April 18 - TricorBraun held a lender call on Thursday to launch a repricing of its $552 million credit facility to Libor plus 325 basis points with a 1% Libor floor from Libor plus 425 bps with a 1.25% floor, according to a market source.

The facility consists of a $75 million revolver and a $477 million term loan.

The repriced term loan will have no pricing grid, whereas, under the current deal there is a step-down.

Also, the repriced term loan has 101 soft call protection for six months and a par offer price, the source said.

Commitments are due on April 26.

GE Capital Markets is leading the deal.

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

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