Fairway to launch $275 million term loan repricing on Wednesday

By Sara Rosenberg

New York, April 23 - Fairway Group Acquisition Co. will hold a lender call at 3 p.m. ET on Wednesday to launch a repricing of its $275 million first-lien term loan due August 2018, according to a market source.

Current pricing on the loan is Libor plus 550 basis points with a 1.25% Libor floor.

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

The source went on to say that the company went public last week and the stock is up 40%-plus from the IPO price, and that at current valuation, it trades at about 25 times last-12-months EBITDA.

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

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