Atkore to launch $670 million in new term loans on Wednesday

By Sara Rosenberg

New York, March 10 - Atkore International Inc. is scheduled to hold a bank meeting at 1:30 p.m. ET in New York on Wednesday to launch $670 million of term loans, according to a market source.

Deutsche Bank Securities Inc., UBS Securities LLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, RBS Securities Inc. and Wells Fargo Securities LLC are the bookrunners on the deal.

The debt consists of a $420 million seven-year first-lien covenant-light term loan and a $250 million 71/2-year second-lien covenant-light term loan, the source said.

Proceeds will be used to finance the acquisition of the remaining 37% of Atkore by Clayton, Dubilier & Rice and to refinance existing debt.

Atkore is a Harvey, Ill.-based manufacturer of primarily non-residential building products.

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