Tobacco Supplier Nabs $675 Million Private Debt Deal from Stifel

Stifel Financial Corp. is launching and leading the sale of a $675 million private credit financing package for Tobacco Rag Processors Inc., which supplies tobacco products to manufacturers, according to a person familiar with the matter.

The deal consists of a five-year, $615 million senior secured term loan and a $60 million revolving credit facility, the person said, asking not to be named discussing a private matter. The financing will help the tobacco product supplier fund two acquisitions and refinance existing debt.