Fairway talks $265 million term loan repricing at Libor plus 550 bps

By Sara Rosenberg

New York, Feb. 4 - Fairway Group Acquisition Co. launched with a call on Monday a repricing of its $265 million first-lien term loan due August 2018 to Libor plus 550 basis points with a 1.25% Libor floor from Libor plus 675 bps with a 1.5% Libor floor, according to a market source.

The repriced loan is offered at par and has 101 repricing protection for one year, the source said.

With the repricing, existing lenders are getting paid out at 101.

Commitments are due on Friday, the source added.

Credit Suisse Securities (USA) LLC, Bank of America Merrill Lynch and Jefferies & Co. are the lead banks on the deal.

Fairway is a supermarket chain with locations in New York, New Jersey and Connecticut.

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