High Liner Foods to launch $70 million add-on term loan B on Tuesday

By Sara Rosenberg

New York, May 22 – High Liner Foods Inc. is set to hold a lender call at 2 p.m. ET on Tuesday to launch a fungible $70 million add-on term loan B due April 24, 2021, according to a market source.

RBC Capital Markets is the lead arranger and bookrunner on the deal.

Pricing on the add-on term loan B is Libor plus 325 basis points with a 1% Libor floor, in line with existing term loan B pricing, the source said.

The add-on term loan B has 101 soft call protection for six months.

Including the add-on, the term loan B will total $338 million.

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

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