Ring Container readies launch of $475 million term loan for Tuesday

By Sara Rosenberg

New York, Sept. 15 – Ring Container Technologies is scheduled to hold a bank meeting on Tuesday to launch a $475 million seven-year covenant-light term loan that includes a $30 million delayed-draw tranche, according to a market source.

Bank of America Merrill Lynch, BMO Capital Markets and Antares Capital are the joint lead arrangers on the deal.

Proceeds will be used to help fund the buyout of the company by MSD Partners LP from Carl Ring and his family.

Closing is expected in the fourth quarter.

Ring Container is an Oakland, Tenn.-based blow molder of high-density polyethylene and polyethylene terephthalate plastic bottles for the food service, retail food and other end-use markets.

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