Hearthside to launch $675 million credit facility on Wednesday

By Sara Rosenberg

New York, April 7 - Hearthside Group Holdings LLC will hold a bank meeting at 10 a.m. ET on Wednesday to launch a $675 million credit facility, according to a market source.

Barclays, Goldman Sachs Bank USA, Deutsche Bank Securities Inc., Fifth Third Securities Inc. and KeyBanc Capital Markets are the bookrunners on the deal.

The facility consists of a $100 million five-year revolver and a $575 million seven-year covenant-light first-lien term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Goldman Sachs and Vestar Capital Partners from Wind Point Partners.

Closing is expected in the second quarter.

Hearthside is a Downers Grove, Ill.-based bakery and contract food manufacturer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.