Arnott readies launch of $500 million term loan for Tuesday

By Sara Rosenberg

New York, Sept. 27 – Arnott (Snacking Investments BidCo Pty Ltd.) is set to hold a bank meeting on Tuesday to launch its proposed $500 million term loan, according to a market source.

The company’s credit facilities (B) also include a $100 million revolver, a A$300 million term loan and a A$90 million delayed-draw term loan.

KKR Capital Markets, Jefferies LLC and Barclays are the joint lead arrangers on the deal, with KKR the left lead on the U.S. loan and Jefferies the left lead on the Australian loan.

Proceeds will be used to help fund the buyout of the company by KKR from Campbell Soup Co. for $2.2 billion in cash.

Arnott is a Sydney, Australia-based food company.

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