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CeramTec to launch €747.5 million credit facility in July 15 week
By Sara Rosenberg
New York, July 12 - CeramTec GmbH will hold a bank meeting in London on Tuesday and one at 10 a.m. ET in New York on Wednesday to launch a €747.5 million credit facility, according to a market source.
Deutsche Bank Securities Inc., RBC Capital Markets and UBS Securities LLC are the bookrunners on the deal.
The facility consists of a €100 million revolver and a €647.5 million equivalent euro and U.S. seven-year term loan B, the source said.
Proceeds will be used to help fund the purchase of the company by Cinven from Rockwood Holdings Inc. for €1.49 billion.
Closing is expected in the third quarter, subject to regulatory approvals, including the E.U. Competition Clearance Authority.
CeramTec is a Plochingen, Germany-based producer of high performance advanced ceramics materials and products.
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