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CPM Holdings readies launch of $1.13 billion term loan for Monday
By Sara Rosenberg
New York, Sept. 15 – CPM Holdings Inc. is scheduled to hold a lender call at 1:30 p.m. ET on Monday to launch a $1.13 billion five-year first-lien term loan, according to a market source.
Jefferies LLC is the left lead arranger on the deal.
The term loan has 101 soft call protection for six months, the source said.
Expected term loan ratings are B3/B.
Proceeds will be used to refinance existing debt and make a one-time distribution to shareholders.
CPM is a provider of highly engineered processing and automation equipment, aftermarket parts and service with exposure to attractive megatrends.
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