Hawkeye Renewables to launch $180 million term loan Wednesday

By Sara Rosenberg

New York, Jan. 21 - Hawkeye Renewables LLC is scheduled to hold a bank meeting Wednesday to launch its proposed $180 million seven-year senior secured term loan, according to a market source. Credit Suisse First Boston is the sole lead bank on the deal.

The term loan is talked at Libor plus 350 basis points.

Proceeds will be used for project financing, basically to build up more plants, the source explained.

Hawkeye Renewables is an Iowa Falls, Iowa, manufacturer of alcohol-based fuel derived from corn.

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