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Gold Standard Baking seeks $139 million credit facility via BNP
By Sara Rosenberg
New York, April 20 – Gold Standard Baking is in market with a $139 million credit facility that is split between a $30 million revolver and a $109 million term loan, according to a market source.
The term loan is talked at Libor plus 475 basis points with a 1% Libor floor and an original issue discount of 99, the source said.
BNP Paribas Securities Corp. is the lead on the deal that launched last Thursday.
Proceeds will be used to help fund the buyout of the company by Tricor Pacific Capital from Arbor Investments.
Other funds for the transaction will come from $27 million of mezzanine debt, the source added.
Gold Standard Baking is a Chicago-based baked goods supplier.
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