Columbus Foods completes $141 million five-year credit facility

By Sara Rosenberg

New York, March 27 - Columbus Foods closed on Wednesday on a new $141 million five-year credit facility, according to a market source.

GE Capital Markets was the lead bank on the deal.

The facility consists of a $20 million revolver, a $20 million delayed-draw term loan and a $101 million term loan, all priced at Libor plus 375 basis points with no Libor floor and sold at a discount of 991/2, the source said.

The deal was oversubscribed at original terms, the source added.

Proceeds were used to refinance existing debt.

Columbus Foods is a Des Plaines, Ill.-based vegetable oils and shortenings company.

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