Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Fiesta Purchaser Inc. > News item |
Fiesta Purchaser pre-marketing $500 million secured notes backing CD&R buyout of Shearer’s Foods
By Paul A. Harris
Portland, Ore., Jan. 23 – Fiesta Purchaser, Inc. is pre-marketing a $500 million offering of senior secured notes backing the buyout of Shearer’s Foods by Clayton Dubilier & Rice, LLC from Ontario Teachers' Pension Plan Board, according to a market source.
The notes are part of a $1.72 billion debt package coming in support of the leveraged buyout, with some proceeds earmarked to repay Shearer’s debt.
The buyout was announced on Dec. 13, 2023, although the terms of the deal were not disclosed.
Deutsche Bank Securities Inc., UBS Investment Bank, BMO Capital Markets Corp, BNP Paribas, RBC Capital Markets LLC and TD Securities provided financing and served as financial advisers to CD&R. Blue Owl Capital Inc. and Goldman Sachs Bank USA provided financing to CD&R.
Debevoise & Plimpton LLP served as legal adviser to CD&R. Goldman Sachs & Co. LLC served as exclusive financial adviser and Kirkland & Ellis served as legal adviser to Shearer’s.
Shearer’s Foods is a Massillon, Ohio-based supplier to the snack industry.
© 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.