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Emerald Performance to launch $500 million of loans on Wednesday
By Sara Rosenberg
New York, July 28 – Emerald Performance Materials LLC is scheduled to hold a lender call at 11 a.m. ET on Wednesday to launch $500 million of credit facilities, according to a market source.
Credit Suisse Securities (USA) LLC is the left lead arranger on the deal.
The facilities consist of a $75 million revolver and a $425 million five-year covenant-lite first-lien term loan, the source said.
The term loan has 101 soft call protection for six months, the source said.
Proceeds will be used to refinance existing debt.
Commitments are due at 5 p.m. ET on Aug. 6, the source added.
Emerald Performance is a Vancouver, Wash.-based manufacturer and marketer of specialty chemicals.
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