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UKG telegraphs $2.5 billion secured debt as part of $8.3 billion refinancing effort
By Paul A. Harris
Portland, Ore., Jan. 22 – UKG Inc. telegraphed a planned $2.5 billion placement of secured debt, according to a market source.
That debt comes along with $5.83 billion of credit facilities via Nomura, JPMorgan and others, scheduled to launch in bank meetings on Tuesday.
Proceeds will be used to refinance first-lien term loans, pay down a revolver draw, and fund cash to the balance sheet.
UKG is a provider of human capital management solutions based in Weston, Fla., and Lowell, Mass.
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