Cooper’s Hawk cuts term loan to $200 million, increases pricing

By Sara Rosenberg

New York, Oct. 16 – Cooper’s Hawk downsized its term loan to $200 million from $225 million and raised pricing to Libor plus 650 basis points from talk in the range of Libor plus 575 bps to 600 bps, according to a market source.

Also, the original issue discount on the term loan was changed to 96 from 99, the source said.

The term loan still has a 0% Libor floor.

BofA Securities, Inc., Jefferies LLC and RBC Capital Markets are the leads on the deal.

Proceeds will be used to help refinance a bridge note.

Cooper’s Hawk, an Ares Management portfolio company, is an experiential restaurant concept and wine club.

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