Fairway Market to launch $25 million add-on term loan on Wednesday

By Sara Rosenberg

New York, Dec. 6 - Fairway Market LLC is set to hold a conference call at 10 a.m. ET on Wednesday to launch a $25 million incremental term loan, according to a market source.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

Pricing on the add-on will match existing term loan pricing of Libor plus 600 basis points with a 1.5% Libor floor, the source said.

The incremental loan will be offered at an original issue discount of 98, whereas the existing loan was sold at 99 when obtained earlier this year.

Proceeds will be used to put cash on the balance sheet for future store development.

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

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