Americold to repay $809 million loan due 2022 via new debt, equity

By Susanna Moon

Chicago, Nov. 15 – Americold Realty Trust plans to repay its $809 million principal amount outstanding under its senior secured term loan B facility due Dec. 1, 2022 using proceeds of a new loan as well as an initial public offering of stock.

As of Sept. 30, interest on the term loan B was one-month Libor plus 375 basis points at quarter-end, according to an S-11 filing with the Securities and Exchange Commission.

J.P. Morgan Securities LLC’s affiliate is a lender under the term loan B.

Americold closed into escrow on its new senior secured credit facilities in November, consisting of a $500 million five-year senior secured term loan A facility and a $350 million three-year senior secured revolving credit facility.

Interest on the new loans is expected to be one-month Libor plus 250 bps.

Any remaining IPO proceeds will be used for general business purposes.

Americold is an Atlanta-based provider of temperature-controlled warehousing and logistics to the food industry.

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