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Boulder seeks $180 million credit facility
By Sara Rosenberg
New York, May 17 - Boulder Specialty Brands Inc. is looking to get a new $180 million credit facility, according to recent filings with the Securities and Exchange Commission.
Bank of America is the lead bank on the deal.
The facility consists of a $20 million six-year revolver (B-) expected at Libor plus 325 basis points, a $120 million seven-year term loan (B-) expected at Libor plus 325 bps and a $40 million 71/2-year second-lien term loan (CCC) expected at Libor plus 500 bps.
The second-lien loan carries call protection of 102 in year one and 101 in year two.
Proceeds will be used to help fund the acquisition of GFA Holdings, Inc., the maker of Smart Balance and Earth Balance heart-healthy food products and other established brands.
Boulder is a Longmont, Colo., blank check company that was formed to serve as a vehicle for the acquisition of an operating business and/or brand in the consumer food and beverage industry.
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