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Wells Fargo Capital Finance Supports $850MM Bumble Bee Refi

August 21, 2017, 07:08 AM

Bumble Bee Holdco, S.C.A., and its subsidiary, Bumble Bee Foods S.à r.l., announced a refinancing of 100 percent of its debt.  The new debt structure includes: Borrowing under a five-year term, $200 million asset-based revolving credit facility with Wells Fargo Capital Finance as Administrative Agent, and Issuance of a six-year term, $650 million term loan facility, with Brookfield Principal Credit as Lead Arranger and Administrative Agent.

In connection with the execution of these credit arrangements, notice of redemption was provided to the holders of the Company's 9% Senior Secured Notes and Senior Unsecured PIK Toggle Notes indicating that those notes would be called at par plus all related accrued and unpaid interest, on September 14, 2017.

"We are very pleased to announce the refinancing of our debt which solidifies our capital structure for the next five years," said Kent McNeil, the Company's executive vice president and chief financial officer.  "The completion of this endeavour is a reflection of the long-standing financial consistency of the business and will provide a platform for the continued operation and growth of Bumble Bee going forward." 


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