Trading volume was low on the break into the secondary market of Sturm Foods' $200 million term loan, as most investors sat tight with their primary allocations. Deutsche Bank leads the amended term loan, which is priced at LIBOR plus 2 1/4%. The new deal will be used to pay off an existing $66 million first lien and a $134 million second lien (CIN, 5/19). It broke at 100 1/4. A call to Rob Rugger, cfo, was not returned.
Sturm Foods Calm On Break