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Sun Products to launch $1.18 billion credit facility on Wednesday
By Sara Rosenberg
New York, March 5 - The Sun Products Corp. is scheduled to hold a bank meeting at 10 a.m. ET in New York on Wednesday to launch a $1.18 billion credit facility, according to a market source.
J.P. Morgan Securities LLC is the lead bank on the deal.
The facility consists of a $100 million five-year revolver and a $1.08 billion seven-year term loan B, the source said.
Proceeds will be used to refinance existing debt.
Sun Products is a Wilton, Conn.-based manufacturer of branded and retailer brand fabric care and dish care products.
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