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Rouse’s readies launch of $235 million credit facility for Tuesday
By Sara Rosenberg
New York, Nov. 28 – Rouse’s is scheduled to hold a bank meeting on Tuesday to launch a $235 million senior secured credit facility, according to a market source.
Capital One is the lead bank on the deal.
The facility consists of a $50 million five-year revolver and a $185 million five-year amortizing term loan, the source said.
Pricing will be grid based with opening pricing expected at Libor plus 275 basis points with no Libor floor, the source continued.
Proceeds will be used to refinance existing debt and for general corporate purposes.
Leverage is about 2.5 times, the source added.
Rouse’s is a Louisiana-based family owned regional supermarket operator.
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