Dayco Products to launch $425 million term loan B on Thursday

By Sara Rosenberg

New York, Nov. 12 - Dayco Products LLC will hold a bank meeting at 10 a.m. ET on Thursday to launch a $425 million seven-year term loan B, according to a market source.

BofA Merrill Lynch, J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC are the lead banks on the deal.

Proceeds will be used to refinance existing debt and fund a dividend.

Dayco Products is a Troy, Mich.-based manufacturer and distributor of belts, tensioners, hose, pulleys and hydraulics equipment for the automotive, trucking, construction, agricultural, ATV, snowmobile and industrial markets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.