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SubCom readies launch of $730 million term loan for Tuesday
By Sara Rosenberg
New York, April 5 – SubCom is scheduled to hold a lender call at noon ET on Tuesday to launch a $730 million first-lien term loan, according to a market source.
Goldman Sachs Bank USA, Citigroup Global Markets Inc., Barclays, Credit Suisse Securities (USA) LLC, Jefferies LLC, Morgan Stanley Senior Funding Inc. and MUFG are the bookrunners on the deal.
Proceeds will be used to fund a dividend to shareholders.
Cerberus is the sponsor.
SubCom is an Eatontown, N.J.-based provider of turnkey subsea fiber optic networks with engineering, manufacturing, installation and maintenance capabilities.
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