A group of lenders led by Deutsche Bank (DB) funded a portion of a $875 million term loan they agreed to provide for the acquisition of protein bar brand FitCrunch by 1440 Foods, Bloomberg reported Monday.
The lenders were forced to do so, having been unable to sell the debt to institutional loan investors before the buyout was closed Friday, the report said, citing people with knowledge of the matter.
Jefferies Financial Group (JEF), Macquarie Capital and BNP Paribas also provided committed financing for the transaction, 1440 Foods said on Nov. 1 when it announced the acquisition.
Deutsche Bank and Macquarie Capital declined to comment. Jefferies, BNP Paribas, 1440 Foods did not immediately reply to MT Newswires' requests for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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