Steinway to launch $105 million add-on first-lien term loan on Monday

By Sara Rosenberg

New York, May 9 - Steinway Musical Instruments Inc. is scheduled to hold a conference call on Monday to launch a $105 million add-on first-lien term loan, according to a market source.

Bank of America Merrill Lynch and Deutsche Bank Securities Inc. are the lead banks on the deal.

Proceeds will be used to refinance an existing second-lien term loan, the source said.

Steinway is a Waltham, Mass.-based musical instruments company.

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