Merisant Co., the global maker of Equal, Canderel and Pure Via tabletop sweeteners, announced that it has successfully completed the refinancing of its credit facility. The new $95 million credit facility consists of a secured loan of $70 million and a revolver of $25 million. This transaction will lower Merisant’s financing costs and provide enhanced liquidity for Merisant’s domestic and international operations.
CEO Paul Block said in a prepared statement, “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.”
The lender group consists of Bank of America, N.A. and Wells Fargo, N.A. (as co-leads) and BMO Harris N.A. The transaction was not syndicated.