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CentroMotion to launch $545 million of term loans on Thursday
By Sara Rosenberg
New York, June 16 – CentroMotion is scheduled to hold a lender call at 11 a.m. ET on Thursday to launch $545 million of first-lien term loans, according to a market source.
JPMorgan Chase Bank is the lead on the deal.
The debt is split between a $420 million seven-year funded term loan and a $125 million delayed-draw term loan, the source said.
Proceeds will be used to fund the acquisition of Carlisle Brake & Friction, a manufacturer of friction materials and mechatronic solutions for off highway brake and transmission products, from Carlisle Cos. Inc., to repay debt and for general corporate purposes.
Commitments are due at 5 p.m. ET on June 30, the source added.
CentroMotion, a portfolio company of One Rock Capital Partners, is a Waukesha, Wis.-based designer and manufacturer of highly engineered components and systems for the industrial and transportation markets.
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