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Arizona Chemical to launch $810 million credit facility on Tuesday
By Sara Rosenberg
New York, Dec. 2 - Arizona Chemical Inc. is scheduled to hold a bank meeting on Tuesday to launch a proposed $810 million credit facility, according to a market source.
Goldman Sachs & Co. is the lead bank on the deal.
The facility consists of a $60 million five-year revolver and a $750 million six-year term loan B, the source said.
Proceeds will be used to refinance existing debt and fund a dividend.
Leverage is 1.75 times.
Arizona Chemical is a Jacksonville, Fla., supplier of pine chemicals to the adhesives, inks and coatings and oleochemicals markets.
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