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Reynolds Consumer Products sets talk on $2.48 billion first-lien loan
By Paul A. Harris
Portland, Ore., Jan. 21 – Reynolds Consumer Products LLC talked its $2,475,000,000 seven-year first-lien term loan at Libor plus 175 basis points to 200 bps at 99.5.
Commitments are due at 5 p.m. ET on Jan. 29.
The deal has a 0% Libor floor and features 101 soft call protection for six months.
Credit ratings remain to be determined.
The deal is in the market via an arranger group led by Credit Suisse.
The Auckland, New Zealand packaging company plans to use the proceeds to repay debt.
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