Boulder Brands increases term loan B size to $300 million

By Sara Rosenberg

New York, July 17 – Boulder Brands Inc. upsized its term loan B to $300 million from $290 million by increasing the size of its add-on, according to a market source.

Price talk on the term loan B is Libor plus 350 bps with a leveraged-based grid that has step-ups and a 1% Libor floor.

Of the total term loan B amount, $250 million is existing debt that is being repriced from Libor plus 400 basis points with a 1% Libor floor and the remainder is the add-on debt.

Commitments are due at 3 p.m. ET on Friday, accelerated from Wednesday, the source added.

RBC Capital Markets, Citigroup Global Markets Inc., BMO Capital Markets and Barclays are the lead banks on the deal.

In addition, the company is looking to increase its revolver to $120 million from $80 million and amend its credit facility to allow for acquisition flexibility.

Lenders are being offered a 25 bps upfront fee on the new money and a 25 bps amendment fee.

Boulder Brands, previously known as Smart Balance Inc., is a Paramus, N.J.-based health and wellness food company.

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