Aluprint Closing $135m Syndication

Mexican packaging company Aluprint is close to finalizing syndication of a $135m dual-currency loan. Leads GE Capital and Rabobank have obtained participation from BBVA, Bladex, Banorte and Citi. A $20m portion is still waiting to be claimed. The deal will pay on a leverage grid, which at the lowest level of 2.00x pays 225bp over TIIE or Libor, and at the highest level of 4.25x leverage, pays 375bp, according to a banker away from the deal. The company is looking for a $120m senior secured term loan and a $15m credit line. Participants can choose between peso and dollar commitments.