American Seafoods seeks $582.5 million term loan B, repricing

By Sara Rosenberg

New York, Jan. 16 – American Seafoods Group LLC is looking to get a $582.5 million term loan B, according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

Price talk on the term loan is Libor plus 275 basis points to 300 bps with a 1% Libor floor and a par issue price, the source said.

Proceeds will be used to reprice an existing term loan B down from Libor plus 325 bps with a 1% Libor floor.

American Seafoods is a Seattle-based harvester and processor of seafood.

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