Golden West Packaging sets Nov. 4 call to launch $290M term loan

Lead arranger Citizens has scheduled a lender call for 1 p.m. ET on Nov. 4 to launch a $290 million first-lien term loan for Golden West Packaging Group LLC, according to sources.

Price talk for the six-year covenant-lite term loan is not yet available, but proceeds will be used to refinance existing indebtedness and to fund a tuck-in acquisition.

The issuer has a first-lien term loan due June 2023 (L+525, 1% Libor floor) that was originally placed in 2017 to back the buyout of the company by Lindsay Goldberg. The issuer followed up with a $70 million add-on to the term loan in February 2018 to fund an acquisition.

Golden West Packaging provides customized, post-print corrugated and specialty packaging solutions.