Aspire Bakeries launches $425 million term loan at SOFR plus 450 bps

By Sara Rosenberg

New York, Dec. 5 – Aspire Bakeries Holdings LLC was scheduled to hold a lender call at 3 p.m. ET on Tuesday to launch a $425 million seven-year first-lien term loan that is talked at SOFR plus 450 basis points with a 25 bps step-down upon an initial public offering, a 0% floor and an original issue discount of 98.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

JPMorgan Chase Bank is the lead on the deal.

Commitments are due at 5 p.m. ET on Dec. 14, the source added.

Proceeds will be used to refinance the company’s existing first- and second-lien term loans.

Aspire Bakeries is a provider of baked goods to customers in the foodservice and retail markets.

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