High Liner Foods talks $300 million term B at Libor plus 425-450 bps

By Sara Rosenberg

New York, Sept. 25 – High Liner Foods Inc. launched on Wednesday its $300 million term loan B with price talk of Libor plus 425 basis points to 450 bps with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term loan has a total net leverage covenant.

RBC Capital Markets is the lead on the deal.

Commitments are due on Oct. 8, the source said.

Proceeds will be used to refinance an existing term loan B.

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

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