Froneri to launch new credit facilities during Jan. 13 week

By Sara Rosenberg

New York, Jan. 10 – Froneri International Ltd. is scheduled to hold a bank meeting at 10 a.m. ET in New York on Wednesday and a bank meeting in London on Thursday to launch roughly €5.8 billion equivalent of first-and second-lien credit facilities, according to a market source.

The facilities are expected to include U.S. dollar, euro and pound sterling tranches, the source said.

Credit Suisse, Deutsche Bank Securities Inc., Goldman Sachs, Citigroup Global Markets Inc., HSBC, J.P. Morgan Securities LLC and BofA Securities Inc. are the underwriters on the deal.

Proceeds will be used to fund the acquisition of Nestle USA’s ice cream business for $4 billion and to refinance existing debt.

Closing is expected this quarter, subject to customary regulatory approvals.

Froneri, a joint venture between PAI Partners and Nestle, is a U.K.-based ice cream manufacturer.

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