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Dean Foods holds lender call to launch facility amend and extend
By Sara Rosenberg
New York, June 15 - Dean Foods Co. held a conference call on Tuesday afternoon to launch its amendment and extension to lenders, according to sources.
Under the proposal, the company is looking to push out the maturity on up to $500 million of its term loan B and as much of its revolver and term loan A as it can, sources said.
Pricing on the extended term loan B, term loan A and revolver would be Libor plus 300 basis points, sources continued.
Currently, the company's term loan B is priced at Libor plus 137.5 bps.
In addition, the extended term loan B would have 101 soft call protection for one year, sources added.
JPMorgan is the left lead bank on the deal.
Dean Foods is a Dallas-based food and beverage company.
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