RBC Capital Arranges High Liner Foods Facilities Amendments
High Liner Foods, a frozen seafood company, announced that it concluded amendments to its senior secured term loan B and asset-based revolving loan facility. RBC Capital Markets acted as lead arranger and bookrunner for the debt amendments.
The ABL facility was amended concurrently with amendments to the term loan B. The principal ABL facility amendments include improved interest costs.
The company expects the amendments to the ABL facility will result in savings of between $150,000 and $250,000 during 2013, with additional savings thereafter during the term, depending on the amount drawn under the ABL Facility.
In addition, the principal amendments to the term loan B are summarized as follows:
The principal amount, maturity and amortization terms of the term loan were not changed by the amendments.