American Rock Salt to launch $570 million credit facilities on Tuesday

By Sara Rosenberg

New York, July 13 – American Rock Salt Co. LLC will hold a bank meeting on Tuesday to launch $570 million of credit facilities, according to a market source.

Citizens Bank and Morgan Stanley Senior Funding Inc. are the leads on the deal.

The facilities consist of a $60 million five-year revolver and a $510 million seven-year term loan B, the source said.

Proceeds will be used to refinance existing debt.

American Rock Salt is a Mount Morris, N.Y.-based salt mine operator.

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