Edward Don firms $210 million term loan at Libor plus 425 bps

By Sara Rosenberg

New York, June 27 – Edward Don & Co. LLC firmed pricing on its $210 million seven-year covenant-light term loan B (B3/B) at Libor plus 425 basis points, the high end of the Libor plus 400 bps to 425 bps talk, according to a market source.

The term loan still has a 1% Libor floor, an original issue discount of 99.5 and 101 soft call protection for six months.

Wells Fargo Securities LLC is the left lead arranger on the deal.

Proceeds will be used to pay down existing ABL borrowings, refinance an existing term loan and pay related fees and expenses.

Vestar Capital Partners Inc. is the sponsor.

Edward Don is a Woodridge, Ill.-based distributor of foodservice equipment and supplies.

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