Earthbound Farm seeks $135 million facility at Libor plus 550 bps

By Sara Rosenberg

New York, June 11 - Earthbound Farm is in market with a $135 million senior credit facility that is being talked at Libor plus 550 basis points, according to a market source.

Tranching on the deal is comprised of a $25 million revolver and a $110 million term loan.

Both tranches carry a 3% Libor floor.

RBC Capital Markets is the lead bank on the deal.

Proceeds will be used to help fund the buyout of the company by HM Capital.

Earthbound Farm is a San Juan Bautista, Calif.-based organic produce company.

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