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Air Canada Technical Services $421 million term loan breaks
By Paul A. Harris
St. Louis, Oct. 5 - The Air Canada Technical Services $421 million first-lien term loan priced Friday at 97, according to a market source.
The Libor plus 325 basis points loan came on top of the price talk and was seen trading in the secondary market at 97¼ bid.
The deal also includes a $225 million second-lien term loan.
Proceeds will be used to help fund the purchase of a majority interest in Air Canada's aircraft-maintenance, refitting and overhaul business by Sageview Capital and Kohlberg Kravis Roberts & Co.
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