North American Breweries plans new $185 million credit facility

By Sara Rosenberg

New York, Nov. 2 - North American Breweries Holdings LLC intends to get a $185 million credit facility that is being led by Morgan Stanley Senior Funding Inc., according to a market source.

The facility consists of a $10 million revolver and a $175 million term loan B, the source said.

Proceeds will be used to help fund the acquisition of the company by Cerveceria Costa Rica SA, a subsidiary of Florida Ice and Farm Co. SA, for $388 million in cash from KPS Capital Partners LP.

Closing is expected this quarter, subject to customary conditions.

North American Breweries is a Rochester, N.Y.-based beer company. Cerveceria Costa Rica is a brewery in San Jose, Costa Rica.

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