05:46 PM EST, 03/04/2025 (MT Newswires) -- Reynolds Consumer Products ( REYN ) said Tuesday it is refinancing the remaining principal of about $1.65 billion from its roughly $2.48 billion term loan facility.

The new loan will mature in 2032, extending the maturity of the existing term loan by about five years, the company said.

Reynolds said the new loan bears interest at the secured overnight financing rate plus 175 basis points per year, a 10 basis point reduction from the existing term loan, and was priced with no original issue discount.