Sprouts Farmers Market Sets Rate on $310 Million Buyout Loan
This article is for subscribers only.
Sprouts Farmers Market LLC, a Phoenix-based food retailer, set the initial interest rate on a $310 million term loan it’s seeking to fund its acquisition of Henry’s Farmers Market and to refinance existing debt.
The interest rate on the term loan, which is due March 2018, may be 4.5 percentage points more than the London interbank offered rate, with a 1.25 percent minimum on the lending benchmark, according to data compiled by Bloomberg. The debt is expected to price at 99 cents on the dollar.