CraftWorks' $150 million credit facility talked at Libor plus 525 bps

By Sara Rosenberg

New York, Oct. 6 - CraftWorks' $150 million credit facility is being talked at Libor plus 525 basis points with a 1.75% Libor floor and an original issue discount of 981/2, according to a market source.

Tranching is split between a $125 million term loan and a $25 million revolver, the source said.

Wells Fargo and GE Capital are the lead banks on the deal that launched with a bank meeting on Tuesday.

Proceeds will be used to help fund Centerbridge Partners' acquisition of restaurant brands, Rock Bottom Brew Pubs and Gordon Biersch Brewery.

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