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Edward Don launches $210 million term loan at Libor plus 400-425 bps
By Sara Rosenberg
New York, June 14 – Edward Don & Co. LLC launched on Thursday its $210 million seven-year covenant-light term loan B (B3/B) with price talk of Libor plus 400 basis points to 425 bps with a 1% Libor floor and an original issue discount of 99.5, according to a market source.
The term loan has 101 soft call protection for six months and amortization of 1% per annum.
Wells Fargo Securities LLC is the left lead arranger on the deal.
Commitments are due at 5 p.m. ET on June 25.
Proceeds will be used to pay down existing ABL borrowings, refinance an existing term loan and pay related fees and expenses.
Vestar Capital Partners Inc. is the sponsor.
Edward Don is a Woodridge, Ill.-based distributor of foodservice equipment and supplies.
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