Most Lenders Back Tosca Services’ Loan-Extension, Capital Deal

Apax Partners-backed Tosca Services launched an amend-and-extend proposal that seeks to push out the maturity of its existing loan by 15 months, according to people familiar with the situation.

• The Atlanta-based maker of plastic containers would get $100 million in fresh debt financing under the deal, which has received support from 74% of existing first-lien term loan lenders, said the people, who asked not to be identified discussing a private matter
  • Interest on the new super-priority first-out term loan would be 550 basis points over the Secured Overnight Financing Rate, and it would mature in November 2028
  • Lenders to ...