Progressive Waste launches term loan repricing at Libor plus 225 bps

By Sara Rosenberg

New York, Nov. 8 - Progressive Waste Solutions Ltd. launched on Friday a repricing of its term loan at Libor plus 225 basis points with a 0.75% Libor floor from Libor plus 275 bps with a 0.75% Libor floor, according to sources.

The repriced loan is being offered at 99 7/8 to par and has 101 soft call protection for six months, sources said.

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

Progressive Waste is a Vaughan, Ont.-based full-service, vertically integrated waste management company.

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