Merrill Lynch and First Union are scheduled to launch this week general syndication of their $800 million credit for Winn-Dixie Stores. A banker said pricing bumped up roughly 25 basis points from its original level resulting in an opening price of LIBOR plus 2 1/2% on the $400 million pro-rata piece. There will be a 37.5 basis points non-use fee on the $200 million, 364-day revolver and a 50 basis points non-use fee on the $200 million five-year revolver. The $400 million term loan will be priced at LIBOR plus 3%. Pricing will be tied to a grid based on the company's credit ratings.
First Union and Merrill To Launch Winn-Dixie Syndication