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Quikrete to launch $2.5 billion term loan B on Thursday
By Paul A. Harris
Portland, Ore., Jan. 22 – Quikrete Holdings, Inc. plans to launch a $2.5 billion seven-year term loan B (B1/BB-) on a lender call set to get underway at 1:30 p.m. ET on Thursday, according to a market source.
Wells Fargo Securities LLC is the lead arranger.
The deal features six months of 101 soft call protection and an annual amortization rate of 1%.
The Atlanta-based supplier of cement and concrete products plans to use the proceeds to refinance its existing Libor plus 275 basis points term loan B due 2023.
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