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Yogurt Maker Chobani Gets A $750 M Shot In The Arm To Fund Expansion Plans

April 23, 2014: 12:00 AM EST
New York-based yogurt maker Chobani has secured a $750 million loan to fuel aggressive expansion plans, specifically to add new products and begin marketing internationally. Private equity firm TPG Capital is providing a second-lien loan, which puts the company behind banks that have financed Chobani since 2005 if there is a default. TPG is also receiving stock warrants tied to performance targets that could give it a 20 percent to 35 percent equity stake if the company performs well.
William Alden, "Seeking to Grow, Chobani Secures $750 Million Loan", The New York Times, April 23, 2014, © The New York Times Company
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