Merisant Deal Scooped Up

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Merisant Deal Scooped Up

Deutsche Bank's $70 million deal for tabletop sweetener-company Merisant blew out last week only days after launching. The add-on credit for Merisant, whose products include Equal and Canderel, was launched last Tuesday, said an official familiar with the situation. "This is a credit people knew with strong brand names," he said. Pricing is still at LIBOR plus 3 1/4 % for the five-year term loan "B" and had not been flexed prior to press time. The new financing is aimed at paying down higher intereset subordinated debt incurred in the leveraged buyout by Pegasus Capital Advisors in March 2000. The business was purchased by Pegasus from Monsanto, which had decided to concentrate on its pharmaceutical and agricultural products business.

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