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Southern Wine launches $2 billion facility at Libor plus 300 bps
By Sara Rosenberg
New York, May 7 - Southern Wine & Spirits of America Inc. launched its $2 billion five-year credit facility on Friday with price talk of Libor plus 300 basis points, according to a market source.
Tranching on the deal is comprised of a $1 billion revolver and a $1 billion term loan.
The revolver has a 50 bps unused fee.
Bank of America is the left lead bank on the facility that is being marketed to banks.
Proceeds will be used to refinance existing debt and for general corporate purposes.
Southern Wine is a Miami-based wine and spirits distributor.
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