Turning Point plans new revolver, to repay existing credit facility

Chicago, Feb. 1 – Turning Point Brands, Inc. plans to repay its 2018 credit facility with proceeds from a new offering of five-year senior secured notes, according to a market source and an 8-K filing with the Securities and Exchange Commission.

The credit facility consisted of a term loan and a revolver.

Additionally, in connection with the new notes, the company plans to enter into a new $25 million senior secured credit facility.

The new offering of notes was launched at $250 million and is not conditioned on the new revolver.

Turning Point is a Louisville, Ky.-based tobacco products supplier.

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