Nellson shops $374 million in term loan debt at Libor plus 425 bps

By Sara Rosenberg

New York, Oct. 17 – Nellson Nutraceutical is talking its fungible $82 million incremental term loan and repricing of its existing roughly $292 million term loan at Libor plus 425 basis points with a 1% Libor floor, according to a market source.

The incremental loan is talked with an original issue discount of 99.5 and existing lenders will be paid a 12.5 bps amendment fee on existing commitments, the source said.

All of the term loan debt will be covered by 101 soft call protection for six months.

Antares Capital is the lead on the deal that launched with a call on Monday.

Commitments are due on Monday, the source added.

Proceeds from the incremental loan will be used to finance an acquisition.

Nellson Nutraceutical, a portfolio company of Kohlberg & Co., is an Anaheim, Calif.-based manufacturer of branded and private-label nutritional bars and functional powder products.

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