Sealed air $790 million acquisition loan said to rise in trading

Sealed Air Corp.’s $790 million term loan B backing its purchase of Diversey Holdings Inc. rose in initial trading, according to information provider Markit Ltd.

The seven-year debt, sold to investors at 98 cents on the dollar, began trading at 99.88 cents and rose to 100.38 cents, Markit said.

Citigroup Inc., Bank of America Corp., BNP Paribas SA and Royal Bank of Scotland Group Plc arranged the loan with an interest rate of 3.75 percentage points more than the London interbank offered rate and a 1 percent floor on the lending benchmark, according to a person with knowledge of the deal who declined to be identified because the terms are private.

To contact the reporter on this story: Michael Amato in New York at mamato3bloomberg.net

To contact the editor responsible for this story: Chapin Wright at cwright4bloomberg.net