Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Central Garden & Pet Co. > News item |
Central Garden & Pet gets $275 million amended and restated revolver
By Sara Rosenberg
New York, July 1 - Central Garden & Pet Co. closed on a $275 million five-year amended and restated senior secured revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Thursday.
JPMorgan and SunTrust acted as the joint lead arrangers and boookrunners on the deal that was completed on June 25, with JPMorgan the administrative agent.
Pricing can range from Libor plus 250 basis points to 350 bps, and the commitment fee can range from 35 bps to 75 bps, based on leverage. Initial pricing is Libor plus 300 bps with a 50 bps commitment fee.
There is a $200 million accordion feature that can be obtained through revolver or term loan commitments.
Proceeds will be used to finance the ongoing working capital needs of the company and its subsidiaries and for general corporate purposes, including permitted acquisitions and capital expenditures.
Central Garden & Pet is a Walnut Creek, Calif.-based producer and seller of products for the pet and lawn and garden supplies markets.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.