Silver Point Leads $862 Million Loan for Sweet Oak M&A, Refi

A group of private credit lenders led by Silver Point Capital provided an $862 million loan that in part supports Sweet Oak’s acquisition of Whole Earth Brands Inc., according to a news release Friday.

Sweet Oak, which closed on the takeover earlier this week and already owned the Royal Oak charcoal brand, picked the direct-lending option over an $800 million leveraged loan that UBS Group AG approached investors with earlier this year.

Pricing on the new senior secured financing was 5.75 percentage points over the Secured Overnight Financing Rate and issued at a discounted price of 98 ...