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SMB Shipping to launch $60 million first-lien term loan on Wednesday
By Sara Rosenberg
New York, Nov. 6 – SMB Shipping Logistics LLC is set to hold a lender call on Wednesday afternoon to launch a $60 million incremental first-lien term loan, according to a market source.
The company is also planning on getting a $100 million incremental second-lien term loan that is being privately placed, the source said.
Antares Capital, Deutsche Bank Securities Inc., Citizens Bank and J.P. Morgan Securities LLC are the joint lead arrangers on the debt.
Proceeds will be used to finance a distribution to existing shareholders.
The incremental first-lien term loan will be fungible with the company’s existing $434 million first-lien term loan.
SMB, a Ridgemont Equity Partners portfolio company, is a Dallas-based provider of small parcel and freight services to the small and medium-sized business market.
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