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Scotts Miracle-Gro plans $1.9 billion five-year credit facility
By Sara Rosenberg
New York, Oct. 7 – Scotts Miracle-Gro Co. has begun negotiations regarding a $1.9 billion five-year amended and restated senior secured credit facility, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.
J.P. Morgan Securities LLC, Bank of America Merrill Lynch and Wells Fargo Securities LLC are the joint lead arrangers and bookrunners on the deal.
The facility consists of a $1.6 billion revolver and a $300 million term loan A.
Proceeds will be used to refinance an existing credit facility.
Closing is expected in the first quarter of the company’s 2016 fiscal year.
Scotts is a Marysville, Ohio-based marketer of branded consumer lawn and garden products.
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