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Kronos readies launch of $3.4 billion credit facility for Friday
By Sara Rosenberg
New York, Oct. 5 – Kronos Inc. is scheduled to hold a lender call on Friday to launch a $3.4 billion credit facility, according to a market source.
Nomura, Jefferies Finance LLC and Macquarie Capital (USA) Inc. are the leads on the deal.
The facility consists of a $100 million five-year revolver, a $2.3 billion seven-year first-lien term loan B and a $1 billion eight-year second-lien term loan, the source said.
Proceeds will be used to refinance existing debt and fund a dividend.
Kronos is a Chelmsford, Mass.-based provider of workforce management software.
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