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Coherent readies launch of €675 million term loan B for Monday
By Sara Rosenberg
New York, July 15 – Coherent Holding GmbH is scheduled to hold a lender presentation in London on Monday to launch a €675 million seven-year term loan B, according to a market source.
Barclays and Bank of America Merrill Lynch are the joint lead arrangers and bookrunners on the deal.
Commitments are due at noon ET on July 28, the source added.
Proceeds will be used to help fund the acquisition of Rofin-Sinar Technologies Inc. for $32.50 per share in cash, in a transaction valued at about $942 million.
Other funds for the transaction will come from cash on hand.
Closing is subject to approval by Rofin stockholders, regulatory approvals in the U.S. and other countries as well as other customary conditions.
Coherent is a Santa Clara, Calif.-based provider of lasers and laser-based technology for scientific, commercial and industrial customers. Rofin is a Plymouth, Mich.-based developer, designer and manufacturer of lasers and laser-based system solutions for industrial material processing applications.
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