Mastronardi to launch seven-year term loan B at meeting on Monday

New York, April 6 – Mastronardi Produce Ltd. will launch a seven-year term loan B at a bank meeting to be held at 11 a.m. ET on Monday, according to a market source.

BofA Merrill Lynch, Bank of Montreal and Rabobank are the arrangers.

The term B is part of a new senior secured credit facility that will be used to refinance the company’s existing cash flow revolver and term loan A.

Mastronardi Produce-USA, Inc. is also a borrower on the loan.

Based in Kingsville, Ont., Mastronardi is the largest grower and distributor of greenhouse-grown produce to retailers in North America.

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