Sara Lee coffee spinoff seeks $1.8 billion bridge financing
DE International Holdings BV, the planned coffee spinoff of Sara Lee Corp., will seek $1.8 billion of bridge financing from lenders, according to a U.S. regulatory filing.
Sara Lee intends to issue about $650 million in notes, and DE International will also arrange a 750 million-euro ($980 million) revolving line of credit, according to the filing.
Sara Lee is separating into two companies -- one focused on the international coffee and tea market and the other on North American meats. The Downers Grove, Illinois-based company sold the majority of its North American food service coffee and tea operations to J.M. Smucker Co. earlier this year.
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