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Culligan readies launch of $950 million term loan B for Tuesday
By Sara Rosenberg
New York, Nov. 3 – Culligan International Co. (Osmosis Buyer Ltd.) is scheduled to hold a lender call at noon ET on Tuesday to launch a $950 million senior secured first-lien term loan B, according to a market source.
Morgan Stanley Senior Funding Inc. is the left lead arranger on the deal.
Proceeds will be used to fund the acquisition of Primo Water Corp.’s international businesses (Primo Europe) in an all-cash transaction valued at up to $575 million, to fully pay down revolving credit facility borrowings and to add cash to the balance sheet.
Culligan is a Rosemont, Ill.-based provider of water treatment products and services.
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