Tata Coffee $183 million credit facility launch expected Sept. 11 week

By Sara Rosenberg

New York, Aug. 17 - Tata Coffee Ltd. plans to hold a bank meeting during the week of Sept. 11 to launch its proposed $183 million credit facility, although a specific date has not yet been decided upon, according to a market source.

Previously, anticipated timing on the deal was a bit vague, with it said to be first half of September business.

Rabo Bank is the lead bank on the deal.

The facility consists of a $15 million revolving credit facility, a $105 million first-lien term loan and a $63 million second-lien term loan.

Proceeds will be used to help fund the acquisition of Montvale, N.J.-based Eight O'Clock Coffee Co. from Gryphon Investors for a total acquisition price of $220 million.

Tata Coffee is an India-based coffee company.

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