Merisant sets Monday launch for $245 million credit facility

By Sara Rosenberg

New York, March 14 - Merisant Co. is scheduled to hold a conference call on Monday to launch its proposed $245 million senior secured credit facility, according to a market source.

Credit Suisse is the lead bank on the deal.

The facility consists of a $35 million revolver and a $210 million first-lien term loan, with both tranches talked at Libor plus 650 basis points, the source said.

The term loan has a 3.25% Libor floor, an original issue discount of 98, and soft call protection of 103 in year one, 102 in year two and 101 in year three, the source continued.

Proceed will be used to retire the company's existing credit facility that was obtained on May 9, 2007.

Merisant is a Chicago-based marketer of low-calorie tabletop sweeteners.

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