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Affiliated Managers to repay revolver with note offering proceeds
By Tali David
Minneapolis, Aug. 1 - Affiliated Managers Group, Inc. plans to use the proceeds from its senior note offering to repay debt under its revolving credit facility, according to a 424B2 filed with the Securities and Exchange Commission.
As of June 30, $195 million was outstanding under the revolver.
In January 2015, $30 million of the revolving credit facility will expire, and the remaining $795 million will expire in November 2016.
The remaining portion of the net proceeds will be used for general corporate purposes.
Affiliated Managers is a Prides Crossing Mass.-based asset management company.
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