TroyGould Represents Calavo Growers in $80 Million Credit Facility

TroyGould represented long-time client Calavo Growers, Inc. in connection with its recently reported “club loan” Credit Agreement with Bank of America, N.A., as administrative agent and lender, Merrill Lynch, Pierce, Fenner & Smith Inc. as joint lead arranger and sole bookrunner, and Farm Credit West, as joint lead arranger and lender. The Credit Agreement provides for a five-year, $80 million syndicated senior unsecured revolving credit facility to replace Calavo’s prior revolving credit facilities.  Subject to certain conditions, Calavo may request an increase (“accordion”) in the available credit under the facility of up to $50 million.