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Fleming Cos. to obtain new $950 million credit facility via Deutsche
By Sara Rosenberg
New York, May 16 - Fleming Cos. Inc., a Lewisville, Tex. supplier of consumer package goods, is scheduled to bring a new $950 million credit facility to market, according to a syndicate source. Deutsche Bank is lead bank on the deal.
The loan consists of a $600 million revolver and a $350 million term loan. The interest rate on the revolver is based on a usage grid and can range from Libor plus 175 basis points to Libor plus 200 basis points. The term has an interest rate of Libor plus 225 basis points, the syndicate source said.
Proceeds will be used towards refinancing existing debt and towards the acquisition of Core-Mark and Head Distributing.
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