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Give & Go tightens issue price on $50 million incremental loan to par
By Sara Rosenberg
New York, Feb. 3 – Give & Go Prepared Foods Corp. changed the issue price on its $50 million covenant-light incremental first-lien term loan (B1/B+) to par from 99.5, according to a market source.
The first-lien term loan is priced at Libor plus 550 basis points with a 1% Libor floor and has 101 soft call protection through July 29, 2017.
Deutsche Bank Securities Inc. and Antares Capital are the bookrunners on the deal.
Recommitments were scheduled to be due by the close of business on Friday, the source said.
Proceeds will be used to fund the acquisition of Uncle Wally’s Bake Shoppe.
Give & Go is a Toronto-based manufacturer of value-added baked goods.
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