WhiteWave gets $500 million term loan A-3 at Libor plus 200 bps

By Sara Rosenberg

New York, Jan. 3 - The WhiteWave Foods Co. closed on its incremental $500 million seven-year term loan A-3 that is priced at Libor plus 200 basis points, according to an 8-K filed with the Securities and Exchange Commission on Friday.

Bank of America Merrill Lynch, J.P. Morgan Securities LLC and CoBank acted as the joint lead arrangers and bookrunners on the deal that was completed on Thursday. American AgCredit is the initial incremental lender.

Proceeds, along with cash on hand, were used to fund the roughly $600 million acquisition of Earthbound Farm from Kainos Capital and founders Drew & Myra Goodman.

Also, the company amended its existing credit facility to reset the accordion feature to its original $500 million amount.

WhiteWave is a Denver-based consumer packaged food and beverage company. Earthbound Farm is a San Juan Bautista, Calif.-based organic food brand.

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