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Earthbound Farm talks $225 million loan at Libor plus 500-525 bps
By Sara Rosenberg
New York, Nov. 30 - Earthbound Farm launched its $225 million six-year term loan B on Tuesday with price talk of Libor plus 500 basis points to 525 bps with a 1.75% Libor floor and an original issue discount of 98 to 981/2, according to a market source.
The company's $250 million credit facility (B1) also includes a $25 million five-year revolver.
RBC is the lead bank on the deal.
Proceeds will be used to refinance existing debt and to fund a dividend payment.
Earthbound Farm is a San Juan Bautista, Calif.-based organic food company.
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