Tata Coffee sets Sept. 14 launch for $183 million credit facility

By Sara Rosenberg

New York, Sept. 6 - Tata Coffee Ltd. has firmed up timing on the launch of its proposed $183 million credit facility with the scheduling of a bank meeting for Sept. 14, according to a market source.

Previously, it was known that the deal would be launching next week, but a specific date had been unavailable.

Rabo Bank is the lead bank on the deal.

The facility consists of a $15 million revolver, 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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