BofA, Wells Co-Lead Merisant Facility Refinancing
Merisant Company, the global maker of Equal, Canderel and Pure Via tabletop sweeteners, completed the refinancing of its credit facility.
The new $95 million credit facility consists of a $70 million secured loan and a $25 million revolver. This transaction will lower Merisant’s financing costs and provide enhanced liquidity for Merisant’s domestic and international operations.
The lender group consists of Bank of America and Wells Fargo as co-leads and BMO Harris. The transaction was not syndicated.
CEO Paul Block said, “This financing is an acknowledgment of our continued stability and performance improvements. Today, we enjoy very favorable debt ratios and a much stronger balance sheet. With this significantly stronger capital structure in place, Merisant continues to be well positioned for successful execution relative to growth, innovation and infrastructure development. We have also used this opportunity to streamline global cash flow and optimize our European Distributor Operations.”