High Liner Foods talks $300 million term B at Libor plus 300-325 bps

By Sara Rosenberg

New York, April 2 - High Liner Foods Inc. launched on Wednesday its $300 million seven-year term loan B with price talk of Libor plus 300 basis points to 325 bps with a 1% Libor floor and an original issue discount of 991/2, according to a market source.

The company's $480 million credit facility also includes a $180 million five-year ABL revolver.

RBC Capital Markets is the lead bank on the deal.

Proceeds will be used to refinance existing debt.

High Liner is a Lunenburg, N.S.-based processor and marketer of frozen seafoods and pasta.

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