ProAmpac launches $1.8 billion term loan at Libor plus 375 bps

By Sara Rosenberg

New York, May 13 – ProAmpac launched on Thursday its $1.8 billion term loan due November 2024 with price talk of Libor plus 375 basis points with a 0.75% Libor floor and an original issue discount of 99.75 to par, according to a market source.

The term loan ha 101 soft call protection for six months, the source said.

Antares Capital is the lead arranger on the deal.

Commitments are due at 5 p.m. ET on May 20, the source added.

Proceeds will be used to reprice an existing term loan down from Libor plus 400 bps with a 1% Libor floor.

ProAmpac, a Pritzker Private Capital portfolio company, is a Cincinnati-based manufacturer of flexible packaging and material science solutions.

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