Ranpak to launch U.S., euro first-lien loan repricing in May 4 week

By Sara Rosenberg

New York, May 1 – Ranpak Holdings Inc. is set to hold a lender call during the week of May 4 to launch a repricing of its U.S. and euro first-lien term loans, according to a market source.

Macquarie Capital (USA) Inc. is the arranger on the deal.

Current pricing on the U.S. term loan is Libor plus 375 basis points with a 1% Libor floor, and current pricing on the euro term loan is Euribor plus 400 bps with a 1% floor.

At close in 2014, the U.S first-lien covenant-light term loan was sized at $233,412,000 and the euro first-lien covenant-light term loan was sized at €157 million.

Ranpak is a Concord Township, Ohio-based manufacturer of paper-based systems for protective packaging needs.

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