Banks begin $4.7bn loan sale for Sealed Air buyout – report

Banks person begun the merchantability of astir $4.7bn successful leveraged loans to assistance money Clayton Dubilier & Rice’s (CD&R) planned acquisition of packaging shaper Sealed Air, reported Bloomberg.

According to sources, JPMorgan Chase is starring the syndication of $4.1bn successful dollar loans portion BNP Paribas is overseeing the merchantability of a $600m euro-denominated loan.

Furthermore, 20 further banks are besides participating successful the financing arrangement.

Preliminary discussions enactment pricing for the dollar and euro loans astatine 3.5-3.75 and 3.75-4 percent points implicit respective benchmarks.

Both loans see an archetypal contented discount of 98.5 and soft-call extortion for six months astatine 101, according to the sources.

The presumption supply 2 step-downs of 25 ground points each if archetypal lien nett leverage ratios autumn to 4.90× and 4.40×, and different 25 ground constituent simplification tied to an IPO event.

Lenders person been invited to a telephone connected 23 March, with commitments owed by 31 March.

This indebtedness bundle is portion of a wider $7.15bn financing program that besides includes $1.35bn successful elder secured notes, $600m equivalent successful euro-denominated secured notes, and $500m successful unsecured notes.

CD&R announced its statement to get Sealed Air past November successful a $10.3bn deal. The woody is projected to adjacent by mid-2026.

Sealed Air reported $44m successful nett income for the 4th fourth of 2025, swinging from a nett nonaccomplishment of nether $1m during the aforesaid play a twelvemonth earlier.

For each of 2025, nett income totalled $5.36bn, down little than 1% from 2024.

Sales successful the nutrient part were mostly unchanged; protective conception income declined by 2%. Full-year nett income roseate to $441m from $270m successful the anterior year.

"Banks statesman $4.7bn indebtedness merchantability for Sealed Air buyout – report" was primitively created and published by Packaging Gateway, a GlobalData owned brand.

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