Great Lakes Dredge to pay down revolver debt via new note offering

By Tali Rackner

Norfolk, Va., Nov. 19 – Great Lakes Dredge & Dock Corp. plans to repay debt incurred under its senior secured revolving credit facility in connection with the recently announced acquisition of Magnus Pacific Corp., according to a press release.

The company will use proceeds from a new senior note offering.

Proceeds will also be used for general corporate purposes.

Great Lakes Dredge & Dock is an Oak Brook, Ill.-based provider of dredging services.

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