U.S. Foodservice extends about $1.24 billion of term loan borrowings

By Sara Rosenberg

New York, June 6 - U.S. Foodservice Inc. extended $1.24 billion, or 63.85%, of its roughly $1.94 billion term loan to 2017 from 2014, according to a market source.

Pricing on the extended loan is Libor plus 425 basis points with a 1.5% Libor floor, and there is 101 soft call protection for one year.

Pricing on the non-extended term loan is Libor plus 250 bps.

Lenders were offered a 10 bps amendment fee and a 15 bps extension fee.

Citigroup Global Markets Inc. and KKR Capital Markets were the joint lead arrangers on the extension that was effective on Wednesday.

U.S. Foodservice is a Columbia, Md.-based broadline foodservice distributor.

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