Juice Plus+ launches $438 million term loan at Libor plus 600 bps

By Sara Rosenberg

New York, Oct. 9 – Juice Plus+ (JP Intermediate II LLC) held a bank meeting at 10 a.m. ET in New York on Tuesday to launch a $438 million seven-year first-lien term loan that is talked at Libor plus 600 basis points with a 1% Libor floor and an original issue discount of 98.5, according to a market source.

The term loan has 101 soft call protection for one year, amortization of 5% per annum and a total net leverage covenant, the source said.

Credit Suisse Securities (USA) LLC and SunTrust Robinson Humphrey Inc. are the lead banks on the deal.

Proceeds will be used to fund the buyout of the company by Altamont Capital.

Commitments are due at 5 p.m. ET on Oct. 23, the source added.

Juice Plus+ is a Collierville, Tenn.-based provider of whole food based nutritional products.

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