Viskase tightens discount on $275 million term loan B to 99¾

By Sara Rosenberg

New York, Jan. 24 - Viskase Cos. Inc. revised the original issue discount on its $275 million seven-year covenant-light term loan B (B2/B) to 99¾ from 991/2, according to a market source.

Pricing on the loan was left unchanged at Libor plus 325 basis points with a 1% Libor floor.

The term B has 101 soft call protection for six months and amortization of 1% per annum.

UBS Securities LLC is the lead bank on the deal.

Proceeds will be used to refinance existing debt.

Viskase is a Darien, Ill.-based producer and seller of cellulosic, fibrous and plastic casings for the processed meat and poultry industry.

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