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Earthbound Farm $135 million credit facility priced at Libor plus 500 bps
By Sara Rosenberg
New York, Dec. 15 - Earthbound Farm's $135 million credit facility ended up with final pricing of Libor plus 500 basis points with an original issue discount of 98, according to a market source.
Tranching on the deal is comprised of a $100 million term loan and a $35 million revolver.
RBC Capital Markets is the lead bank on the facility.
Proceeds will be used to fund the leveraged buyout of the company by Lindsey Goldberg.
Closing is expected to take place next year, the source added.
Earthbound Farm is a San Juan Bautista, Calif.-based organic produce company.
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