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Cooke launches $480 million term loan at Libor plus 325-350 bps
By Sara Rosenberg
New York, Aug. 2 – Cooke Inc. launched on Monday its $480 million seven-year term loan B (Ba3/B+) with price talk of Libor plus 325 basis points to 350 bps with a 0.5% Libor floor and an original issue discount of 99 to 99.5, according to a market source.
The term loan has 101 soft call protection for six months.
BofA Securities Inc. and DNB are the leads on the deal.
Proceeds will be used with $580 million of unsecured notes to refinance existing debt.
Cooke is a New Brunswick-based seafood producer.
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