Ring Container launches $770 million term B at Libor plus 375-400 bps

By Sara Rosenberg

New York, July 26 – Ring Container Technologies Group held a lender call at 11 a.m. ET on Monday to launch a $770 million seven-year term loan B (B2/B) that is talked at Libor plus 375 basis points to 400 bps with a 0.5% Libor floor and an original issue discount of 99 to 99.5, according to a market source.

The term loan has 101 soft call protection for six months.

BofA Securities Inc. is the left lead arranger on the deal.

Commitments are due at 5 p.m. ET on Aug. 4, the source added.

Proceeds will be used to refinance existing debt and fund a dividend.

Ring Container is an Oakland, Tenn.-based manufacturer of plastic containers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.