Pro Mach sets $377.1 million term loan at Libor plus 375 bps

By Sara Rosenberg

New York, May 8 – Pro Mach Inc. firmed pricing on its $377.1 million term loan due October 2021 at Libor plus 375 basis points, the high end of the Libor plus 350 bps to 375 bps talk, according to a market source.

The term loan still has a 1% Libor floor, a par offer price and 101 soft call protection for six months.

Goldman Sachs Bank USA is the lead on the deal.

Proceeds will be used to reprice an existing $377.1 million term loan due October 2021 from Libor plus 450 bps with a 1% Libor floor.

Pro Mach is a Loveland, Ohio-based provider of integrated packaging and processing products and solutions for food, beverage, consumer goods, pharmaceutical and other diverse companies.

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