Dessert Holdings to launch $665 million credit facilities on Thursday

By Sara Rosenberg

New York, May 19 – Dessert Holdings is set to hold a lender call at 10 a.m. ET on Thursday to launch $665 million of credit facilities, according to a market source.

Antares Capital, Barclays, BMO Capital Markets, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., KKR Capital Markets, MUFG, Nomura Securities, RBC Capital Markets, Sumitomo Mitsui Banking Corp. and Stifel Nicolaus and Co. are the joint lead arrangers on the deal.

The facilities consist of a $75 million revolver, a $380 million first-lien term loan, a $75 million first-lien delayed-draw term loan and a $135 million second-lien term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Bain Capital Private Equity from Gryphon Investors.

Closing is expected this quarter, subject to customary conditions, including regulatory approvals.

Dessert Holdings is a St. Paul, Minn.-based dessert company.

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