North American Breweries sets Tuesday launch for $190 million facility

By Sara Rosenberg

New York, Nov. 16 - North American Breweries Holdings LLC (CCR American Breweries Inc.) scheduled a bank meeting for 10:30 a.m. ET on Tuesday to launch its proposed $190 million credit facility, according to a market source.

Morgan Stanley Senior Funding Inc. is the lead bank on the deal.

The facility consists of a $175 million term loan and a $15 million ABL revolver, 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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