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Service King launches $75 million add-on term loan B to investors
By Sara Rosenberg
New York, June 14 – Service King Collision Repair Centers held a lender call on Tuesday to launch a fungible $75 million add-on term loan B, according to a market source.
Pricing on the term loan is Libor plus 350 basis points with a 1% Libor floor.
The add-on loan is offered at an original issue discount in a 99.5 context, the source said.
Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Macquarie Capital (USA) Inc. are the leads on the deal.
Commitments are due at noon ET on Friday, the source added.
Proceeds will be used for general corporate purposes.
Service King is a Dallas-based operator of a chain of automobile body repair centers.
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