Fairway Market launches $100 million term loan at Libor plus 800 bps

By Sara Rosenberg

New York, Nov. 19 -Fairway Market LLC launched its $100 million five-year term loan on Thursday with price talk of Libor plus 800 basis points with a 2.5% Libor floor, according to a market source.

The original issue discount on the term loan is talked in the 97 to 98 area, the source said.

Fairway's $115 million credit facility also includes a $15 million 41/2-year revolver.

Credit Suisse and Jefferies are the lead banks on the deal that will be used to refinance existing debt and for expansion capital.

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

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