Doane Pet Care to hold bank meeting Wednesday for $230 million credit facility

By Paul A. Harris

St. Louis, Oct. 7 - Doane Pet Care is scheduled to hold a bank meeting Wednesday for the company's $230 million senior secured credit facility, according to an informed source.

Credit Suisse First Boston is leading the deal.

The facility will be comprised of a $195 million term loan and a $35 million revolver. Both tranches mature in five years and are expected to be priced at Libor plus 450 basis points.

Proceeds will be used to refinance the company's existing credit facility which matures in December 2005.

Doane Pet Care is a Brentwood, Tenn.-based manufacturer of private label pet food.

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