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Swift facility to be led by Bank of America, Morgan Stanley and Wells
By Sara Rosenberg
New York, Nov. 8 - Swift Holdings Corp.'s proposed senior secured credit facility is being done via joint lead arrangers and bookrunners Bank of America, Morgan Stanley and Wells Fargo, with Bank of America the administrative agent, according to an S-1/A filed with the Securities and Exchange Commission on Monday.
The facility is expected to include a revolver and a term loan.
The facility is being obtained in conjunction with the company's initial public offering of common stock.
Proceeds from the facility, along with senior secured second-lien notes and stock proceeds, will be used to refinance the company's existing bank debt, senior secured floating-rate notes and senior secured fixed-rate notes.
Closing on the new credit facility is conditioned on completion of the IPO.
Swift is a Phoenix, Ariz.-based transportation services company and truckload carrier.
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