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Knoll $500 million credit facility talked in the Libor plus 250 basis points area
By Sara Rosenberg
New York, Aug. 26 - Price talk surfaced on Knoll Inc.'s proposed $500 million senior secured credit facility (BB-), with both the $75 million revolver and the $425 million term loan expected in the Libor plus 250 basis points context, according to a market source.
A bank meeting to launch the deal is expected to be held on Sept. 9, a different source said.
UBS Securities LLC and Goldman Sachs are the lead banks on the deal, with UBS listed on the left.
Proceeds will be used to refinance existing debt and to fund a modest dividend to existing shareholders.
Knoll is an East Greenville, Pa., designer and manufacturer of branded office furniture products and textiles.
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