BWAY Holding finalizes $1.24 billion term B at Libor plus 375 bps

By Sara Rosenberg

New York, Dec. 5 – BWAY Holding Co. firmed the spread on the extension and repricing of its $1.24 billion senior secured term loan B (B2) due August 2023 at Libor plus 375 basis points, the low end of the Libor plus 375 bps to 400 bps talk, according to a market source.

The repriced loan still has a 1% Libor floor, an original issue discount of 99.5 and 101 soft call protection for six months.

Bank of America Merrill Lynch is the lead bank on the deal.

Proceeds will be used to extend the term loan B from 2020 and reprice it from Libor plus 450 bps with a 1% Libor floor.

BWAY is an Atlanta-based supplier of general line rigid containers.

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