Spanish food group Sos said Friday it has signed a €200m loan with a group of national and international banks to pay down debt and finance the €52m
acquisition of Dutch rice maker Lassie.
Sos said the agreement will help it reduce a prior syndicated loan with a €140m outstanding balance. It will also enable it to amortise the purchase of Lassie
from the Sara Lee group in July.
As part of that deal, Sos bought other Sara Lee rice brands in Holland, its manufacturing facilities, client and supplier network, and stocks.
The main lenders are Spanish bank Vasconia, Cajastur, Caja de Ahorros Mediterraneo, Caja Castilla-La Mancha, Banesto, BBVA, BNP Paribas and Rabobank International, Sos said in a statement filed with Spanish Stock
Market regulator Comision Nacional de Valores (CNMV). The loan is payable in seven years at annual interest of 0.9% plus the Euribor rate.
Sos is Spain’s biggest rice company. It also makes the Cuetara cookie brands, cooking oil, and pastries.