Van Houtte to launch $425 million credit facility on June 15

By Sara Rosenberg

New York, June 7 - Van Houtte Inc. is scheduled to hold a bank meeting on June 15 to launch its proposed $425 million credit facility, according to a syndicate document.

Credit Suisse and CIBC are the joint lead arrangers on the deal.

The facility consists of a $50 million six-year revolver with a 50 basis point commitment fee, a $250 million seven-year first-lien term loan and a $125 million 71/2-year second-lien term loan, the document said.

Proceeds will be used to help fund the leveraged buyout of the company by Littlejohn & Co. LLC for C$25.00 per share. The total enterprise value of the transaction is about C$600 million, including the assumption of existing indebtedness.

Van Houtte is a Montreal-based gourmet coffee roaster, marketer and distributor.

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