Aluprint Gives Lenders Peso/Dollar Option

Aluprint, the Mexican packaging company, is looking to raise $135m in syndication to pay for its acquisition by JPMorgan’s One Equity Partners, has apparently given prospective participants the option to lend in either dollars or pesos, depending on what is more convenient. 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 over, according to a banker away from the deal. The company is looking for a $120m senior secured term loan and a $15m credit line. The transaction is heard to have grabbed the interest of at least one MLA so far. GE Capital is leading.