8th Avenue Food launches $125 million term loan at Libor plus 475 bps

By Sara Rosenberg

New York, Aug. 10 – 8th Avenue Food & Provisions Inc. launched on Tuesday its $125 million incremental first-lien term loan (B-) due Oct. 1, 2025 with price talk of Libor plus 475 basis points with a 0.75% Libor floor and an original issue discount of 98.5 to 99, according to a market source.

The term loan has 101 soft call protection for six months and 50 bps MFN with a 24-month sunset, the source said.

Barclays is the lead on the deal.

Commitments are due at noon ET on Aug. 17.

Proceeds will be used to repay revolving credit facility drawings, which were used to finance a portion of the acquisition of Ronzoni, and for working capital needs and general corporate purposes.

8th Avenue Food is a Brentwood, Mo.-based consumer products holding company.

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