Americold Realty to launch $385 million add-on term loan on Monday

By Sara Rosenberg

New York, June 3 – Americold Realty Operating Partnership LP will hold a meeting on Monday to launch a fungible $385 million add-on first-lien term loan due December 2022, according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

Price talk on the add-on loan is Libor plus 550 basis points with a 1% Libor floor and an original issue discount of 99.5, the source said.

The spread and floor on the add-on matches existing term loan pricing.

Proceeds will be used to refinance CMBS debt, to fund an acquisition and for general corporate purposes.

Americold is an Atlanta-based provider of temperature-controlled warehousing and logistics to the food industry.

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