Gavilon schedules Friday bank meeting for $900 million term loan

By Sara Rosenberg

New York, Oct. 25 - Gavilon LLC is set to hold a bank meeting on Friday to launch its proposed $900 million term loan, according to a market source.

BNP Paribas, Bank of America, JPMorgan and Morgan Stanley are the lead banks on the deal.

The company is also getting an asset-based revolver.

Proceeds will be used to help fund the acquisition of DeBruce Cos.

Closing on the acquisition is expected in November, subject to receipt of certain regulatory approvals.

Gavilon is an Omaha-based commodity management firm. DeBruce is a Kansas City, Mo.-based agricultural firm.

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