Earthbound Farm talks $225 million loan at Libor plus 500-525 bps

By Sara Rosenberg

New York, Nov. 30 - Earthbound Farm launched its $225 million six-year term loan B on Tuesday with price talk of Libor plus 500 basis points to 525 bps with a 1.75% Libor floor and an original issue discount of 98 to 981/2, according to a market source.

The company's $250 million credit facility (B1) also includes a $25 million five-year revolver.

RBC is the lead bank on the deal.

Proceeds will be used to refinance existing debt and to fund a dividend payment.

Earthbound Farm is a San Juan Bautista, Calif.-based organic food company.

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