NANA Development to pay down bank borrowings with notes proceeds

By Sara Rosenberg and Paul A. Harris

New York, March 7 - NANA Development Corp. plans to repay revolving credit facility and term loan debt with proceeds from a $275 million notes offering, according to a market source.

Remaining funds from the notes will be used for general corporate purposes.

NANA is an Anchorage, Alaska-based engineering, construction, resource development, facilities management and logistics company.

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