Give & Go increases first-lien term loan amount to $485 million

By Sara Rosenberg

New York, Aug. 17 – Give & Go Prepared Foods Corp. upsized its first-lien term loan due July 2023 to $485 million from $475 million and downsized its privately placed second-lien term loan to $140 million from $150 million, according to a market source.

Pricing on the first-lien term loan is still Libor plus 425 basis points with a 1% Libor floor and an original issue discount of 99.75.

The first-lien term loan continues to include 101 soft call protection for six months.

Earlier in syndication, pricing on the first-lien term loan was lowered from Libor plus 450 bps and the discount was tightened from 99.5.

Deutsche Bank Securities Inc. is the left bookrunner on the deal.

Recommitments were scheduled to be due at 2:30 p.m. ET on Wednesday, 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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