AGRO Merchants to launch $440 million in term loans on Thursday

By Sara Rosenberg

New York, Oct. 31 – AGRO Merchants Global LP is scheduled to hold a lenders’ presentation at 10:30 a.m. ET on Thursday to launch $440 million of senior secured term loans, according to a market source.

Morgan Stanley Senior Funding Inc., Barclays and Deutsche Bank Securities Inc. are the lead banks on the deal.

The debt consists of a $350 million first-lien term loan and a $90 million second-lien term loan, the source said.

Proceeds will be used to refinance the existing capital structure, fund an acquisition, and pay related fees and expenses.

AGRO Merchants is an Alpharetta, Ga.-based owner and operator of temperature-controlled warehouse and distribution space.

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