Aspire Bakeries flexes $425 million term loan to SOFR plus 425 bps

By Sara Rosenberg

New York, Dec. 15 – Aspire Bakeries Holdings LLC reduced pricing on its $425 million seven-year first-lien term loan (B2/B) to SOFR plus 425 basis points from SOFR plus 450 bps, according to a market source.

In addition, the original issue discount on the term loan tightened to 99 from 98.5, the source said.

As before, the term loan has a 25 bps step-down upon an initial public offering, a 0% floor and 101 soft call protection for six months.

JPMorgan Chase Bank is the lead on the deal.

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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