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Alphia launches $640 million term loan B at SOFR plus 450 bps
By Sara Rosenberg
New York, Sept. 18 – Alphia Inc. launched on Monday its $640 million seven-year term loan B (B) with price talk of SOFR plus 450 basis points with a 0.5% floor and an original issue discount of 97 to 98, according to a market source.
The term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.
Goldman Sachs Bank USA, Jefferies LLC, BMO Capital Markets, Citizens, Deutsche Bank Securities Inc., Morgan Stanley Senior Funding Inc., Rabobank, SMBC and Wells Fargo Securities LLC are the arrangers on the deal. Goldman Sachs is the agent.
Commitments are due on Sept. 28, the source added.
Proceeds will be used to help fund the buyout of the company by PAI Partners from J.H. Whitney Capital Partners.
Closing is subject to customary conditions, including the receipt of certain regulatory approvals.
Alphia is a Denver-based contract manufacturer of dry pet food and treats.
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