Roskam Baking seeks $115 million credit facility

By Sara Rosenberg

New York, April 1 - Roskam Baking Co. is in the process of syndicating a $115 million credit facility, according to a market source.

CIT and GE Capital are likely to be the joint lead arrangers on the deal that is being done club style, the source said.

The facility consists of a $20 million revolver and a $95 million term loan.

Price talk on both tranches is Libor plus 650 basis points with a 3% Libor floor and an original issue discount of 97, the source added.

Proceeds will be used to help fund the acquisition of the company by Wind Point Partners.

Roskam Baking is a Grand Rapids, Mich.-based commercial bakery.

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