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The Chefs’ Warehouse Commences Refinancing, Seeks $75MM ABL

June 01, 2016, 07:32 AM
Filed Under: Distribution

The Chefs’ Warehouse, Inc.,  a premier distributor of specialty food products in the United States, announced commenced a refinancing process with the marketing of a new $280 million term loan facility and a $50 million delayed term loan facility, subject to market and other considerations.  If the proposed refinancing is successful, the proceeds of the term loan facility will be used to refinance the Company’s existing credit facility, retire its outstanding senior secured notes, pay related fees, costs and expenses and for general corporate purposes. The proceeds of the delayed draw term loan facility will be used for permitted acquisitions and general corporate purposes. Concurrent with the refinancing, the Company also expects to enter into a $75 million asset-based credit facility. There can be no assurance that the proposed refinancing will be effected as described above or at all.

The Chefs' Warehouse, Inc. is a premier distributor of specialty food products in the United States and Canada focused on serving the specific needs of chefs who own and/or operate some of the nation's leading menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolatiers, cruise lines, casinos and specialty food stores. The Chefs' Warehouse, Inc. carries and distributes more than 34,000 products to more than 26,000 customer locations throughout the United States and Canada.

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