Wilton Brands launches $525 million credit facility to investors

By Sara Rosenberg

New York, Aug. 7 - Wilton Brands Inc. revealed details on structure and price talk on its credit facility as the $525 million deal launched on Tuesday, according to a market source.

The facility consists of a $125 million ABL revolver and a $400 million term loan, the source said.

Talk on the term loan is Libor plus 550 basis points with a 1.25% Libor floor and an original issue discount of 98 to 99, the source continued.

Included in the term loan is 101 soft call protection for one year and a maximum total leverage covenant.

Deutsche Bank Securities Inc. and UBS Securities LLC are the lead banks on the deal.

Proceeds will be used to refinance existing debt.

Commitments are due on Aug. 16.

Wilton is a Woodridge, Ill.-based craft and celebration company.

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