Savage Enterprises to launch $1.5 billion credit facilities Tuesday

By Sara Rosenberg

New York, June 7 – Savage Enterprises LLC will hold a lender presentation at 2:30 p.m. ET on Tuesday to launch $1.5 billion of senior secured credit facilities, according to a market source.

Morgan Stanley Senior Funding Inc., Wells Fargo Securities LLC, PNC Capital Markets LLC and Citigroup Global Markets Inc. are the lead banks on the deal.

The facilities consist of a $400 million ABL revolver and a $1.1 billion term loan B, the source said.

Proceeds will be used to finance the purchase of Bartlett and Co. and pay related fees and expenses.

Closing is expected in August.

Savage is a Salt Lake City-based supply chain provider. Bartlett is a Kansas City, Mo.-based grain and milling firm.

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