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Corporation Service shops €1 billion term loan A, plans term B
By Sara Rosenberg
New York, May 6 – Corporation Service Co. (CSC) is in the market with a €1 billion term loan A and is expected to launch a $2.35 billion term loan B at a later date, according to a market source.
The term loan A launched with a lender call on Thursday, the source said.
BofA Securities Inc., Jefferies LLC and Wells Fargo Securities LLC are the leads on the deal (B1/BB-/BBB-).
Proceeds will be used to help fund the acquisition of Intertrust NV for €20 in cash per share, or about €1.8 billion.
Corporation Service is a Wilmington, Del.-based provider of corporate, legal, tax and digital brand services. Intertrust is an Amsterdam-based provider of tech-enabled fund and corporate solutions.
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