Vestcom launches $344 million term loan at Libor plus 375 bps

By Sara Rosenberg

New York, June 15 – Vestcom held a conference call on Thursday afternoon to launch a $344 million covenant-light term loan due Dec. 19, 2023 that is talked at Libor plus 375 basis points with a 1% Libor floor and a par issue price, according to a market source.

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

Antares Capital is the lead on the deal.

Commitments are due on June 22, the source added.

Proceeds will be used to refinance an existing term loan priced at Libor plus 425 bps with a step-down to Libor plus 400 bps at total net leverage of 5.5 times and a 1% Libor floor.

Vestcom is a Little Rock, Ark.-based provider of outsourced shelf-edge information and media solutions.

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