Juice Plus+ ups loan to $450 million, flexes to Libor plus 550 bps

By Sara Rosenberg

New York, Oct. 18 – Juice Plus+ (JP Intermediate II LLC) increased its seven-year first-lien term loan to $450 million from $438 million and decreased pricing to Libor plus 550 basis points from Libor plus 600 bps, according to a market source.

Also, the original issue discount on the term loan was changed to 99 from 98.5, the source said.

As before, the term loan has a 1% Libor floor, 101 soft call protection for one year, amortization of 5% per annum and a total net leverage covenant.

The company’s now $500 million of credit facilities (B2/B+), up from $488 million, also include a $50 million revolver.

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

Recommitments were scheduled to be due at 5 p.m. ET on Thursday, the source added.

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

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.