Utz Brands wraps $75 million term loan at discount of 99.75

By Sara Rosenberg

New York, June 15 – Utz Brands Inc. allocated a $75 million term loan that is priced with an original issue discount of 99.75, according to a market source.

Pricing on the add-on term loan is Libor plus 300 basis points with a 0% Libor floor.

During syndication, the term loan was upsized from $50 million, the source said.

BofA Securities Inc. is the lead on the deal.

Proceeds will be used to refinance existing debt.

Utz is a Hanover, Pa.-based manufacturer of branded salty snacks.

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