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Lineage Logistics sets Tuesday call for $60 million tack-on term loan
By Paul A. Harris
Portland, Ore., April 21 - Lineage Logistics LLC plans to participate in a lender call at noon ET on Tuesday to discuss a $60 million tack-on to its Libor plus 350 basis points seven-year first-lien covenant-light term loan (B3/B), according to a market source.
The deal, which features a 1% Libor floor and 101 soft call protection through October, is talked at an original issue discount of 99.
Commitments are due at 5 p.m. ET Thursday.
Credit Suisse Securities (USA) LLC is the lead.
Proceeds will be used to fund tuck-in acquisitions.
As previously reported, the original $600 million Libor plus 350 bps loan priced at 99.5 in March.
Lineage Logistics is a Colton, Calif.-based cold storage warehousing and logistics company.
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