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American Tire Distributors to launch $300 million term loan on Friday
By Sara Rosenberg
New York, March 5 - American Tire Distributors Inc. is scheduled to hold a lender meeting at 10 a.m. ET on Friday to launch a $300 million senior secured covenant-light term loan due June 2018, according to a market source.
Bank of America Merrill Lynch is the lead bank on the deal.
Proceeds will be used to help fund the acquisition of Terry's Tire Town Holdings Inc., an Alliance, Ohio-based tire distributor.
Closing is expected in late March or early April.
American Tire is a Huntersville, N.C.-based replacement tire distributor.
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