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Arizona Chemical to launch $940 million facility in coming weeks
By Sara Rosenberg
New York, May 13 - Arizona Chemical Inc. plans to hold a bank meeting in the next few weeks to launch a $940 million credit facility, according to a market source.
Goldman Sachs Bank USA is the lead bank on the deal.
The facility consists of a $60 million revolver, a $675 million first-lien term loan and a $205 million second-lien term loan, the source said.
Proceeds will be used to refinance existing debt and fund a dividend.
Arizona Chemical is a Jacksonville, Fla.-based biorefiner of pine chemicals.
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