Clearwater Seafoods nets $10 million term loan B increase led by GE

By Sara Rosenberg

New York, Aug. 7 - Clearwater Seafoods Inc. upsized its term loan B by $10 million to $134 million through the accordion feature, according to a news release.

GE Capital Markets Inc. acted as the lead arranger and bookrunner on the deal.

Pricing on the upsized term loan remained at Libor plus 550 basis points with a 1.25% Libor floor.

Proceeds were used to repay borrowings under the company's asset-based revolver.

Clearwater is a Bedford, N.S.-based seafood company and holder of shellfish licenses and quotas.

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