Chobani readies launch of $550 million term loan B for Tuesday

By Sara Rosenberg

New York, Dec. 4 – Chobani LLC is scheduled to hold a lender call at 11 a.m. ET on Tuesday to launch a non-fungible $550 million incremental term loan B due Oct. 23, 2027, according to a market source.

BofA Securities Inc., Goldman Sachs Bank USA, JPMorgan Chase Bank and TD Securities (USA) LLC are the arrangers on the deal.

The term loan has 101 soft call protection for six months, and a ticking fee of half the margin from days 46 to 90 and the full margin thereafter, the source said.

Proceeds are intended to be used to finance an acquisition but if the acquisition does not close, the proceeds will be used to repay senior unsecured notes due 2025 at par plus all associated fees and expenses.

Chobani is a food and beverage company known for Greek Yogurt.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.