Arnott plans to launch $500 million term loan for buyout by KKR

By Sara Rosenberg

New York, Sept. 26 – Arnott (Snacking Investments BidCo Pty Ltd.) is planning on coming to market with a $500 million term loan, according to sources.

The company’s credit facilities (B) also include a $100 million revolver, a A$300 million term loan and a A$90 million delayed-draw term loan, source said.

KKR Capital Markets, Jefferies LLC and Barclays are the joint lead arrangers on the deal, with KKR the left lead on the U.S. loan and Jefferies the left lead on the Australian loan.

Proceeds will be used to help fund the buyout of the company by KKR from Campbell Soup Co. for $2.2 billion in cash.

Arnott is a Sydney, Australia-based food company.

© 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.