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ABB Optical to launch $650 million credit facility on Thursday
By Sara Rosenberg
New York, Sept. 9 – ABB Optical Group Inc. is set to host a lenders’ presentation at 11 a.m. ET on Thursday to launch a $650 million senior secured credit facility, according to a market source.
Morgan Stanley Senior Funding Inc., Deutsche Bank Securities Inc. and GE Capital Markets Inc. are the leads on the deal.
The facility consists of a $100 million revolver, a $400 million first-lien term loan and a $150 million second-lien term loan, the source said.
Proceeds will be used to refinance an existing first-lien term loan and fund a dividend distribution.
ABB Optical is an optical distributor.
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