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Give & Go launches $475 million term loan at Libor plus 450 bps
By Sara Rosenberg
New York, Aug. 3 – Give & Go Prepared Foods Corp. launched on Thursday its $475 million covenant-light first-lien term loan due July 2023 with price talk of Libor plus 450 basis points with a 1% Libor floor and an original issue discount of 99.5, according to a market source.
The term loan includes 101 soft call protection for six months.
Deutsche Bank Securities Inc. is the left bookrunner on the deal.
Commitments are due at the close of business on Aug. 16, the source added.
Proceeds will be used for a recapitalization.
Give & Go is a Toronto-based manufacturer of value-added baked goods.
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