Tosca talks $526.5 million term loan at Libor plus 475-500 bps

By Sara Rosenberg

New York, July 16 – Tosca Services LLC launched on Thursday its $526.5 million seven-year first-lien term loan (B) with price talk of Libor plus 475 basis points to 500 bps with a 1% Libor floor and an original issue discount of 97, according to a market source.

The term loan has 101 soft call protection for six months and amortization of 1% per annum.

Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., UBS Investment Bank, Goldman Sachs Bank USA, Rabobank, KKR Capital Markets and Mizuho are the arrangers on the deal.

Commitments are due at 5 p.m. ET on July 29.

Proceeds will be used to fund the acquisition of Contraload NV, an Aartselaar, Belgium-based provider of upstream reusable plastic pallets and containers for the FMCG industry and other commercial markets in Europe, and to refinance existing debt.

Tosca, an Apax Partners portfolio company, is an Atlanta-based provider of reusable packaging supply chain solutions.

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