PDC Brands sets price talk on $280 million credit facility with launch

By Sara Rosenberg

New York, June 9 – PDC Brands released price talk on its $280 million credit facility (B2/B) in connection with its bank meeting on Tuesday, according to a market source.

The $20 million five-year revolver is talked at Libor plus 400 basis points with no Libor floor, and the $260 million seven-year first-lien covenant-light term loan B is talked at Libor 400 bps with a 1% Libor floor and an original issue discount of 99.5, the source said.

Included in the term loan is 101 soft call protection for six months.

GE Capital Markets and RBC Capital Markets LLC are the joint lead arrangers on the deal.

Commitments are due on June 23, the source added.

Proceeds will be used to fund an acquisition.

Leverage is 4.5 times all senior.

Yellow Wood is the sponsor.

PDC Brands, formerly known as Parfums de Coeur, is a Stamford, Conn.-based beauty, personal care and wellness company.

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