Whole Earth to launch $450 million credit facilities on Thursday

By Sara Rosenberg

New York, Jan. 19 – Whole Earth Brands Inc. is scheduled to hold a lender call on Thursday to launch $450 million of credit facilities, according to a market source.

TD Securities (USA) LLC is the lead on the deal.

The facilities consist of a $75 million revolver and a $375 million term loan B, the source said.

Proceeds will be used with cash on hand to fund the $180 million acquisition of Wholesome Sweeteners Inc. and to refinance existing bank debt.

Net debt to adjusted EBITDA is expected to be about 4.5x.

Closing is expected in the company’s first quarter 2021, subject to review under antitrust laws.

Whole Earth is a Chicago-based food company focused on premium plant-based sweeteners, flavor enhancers and other foods. Wholesome Sweeteners is an organic sweetener brand.

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