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Engility seeks $300 million pro rata secured credit facility
By Sara Rosenberg
New York, June 13 - Engility Corp. is looking to get a $300 million senior secured credit facility (BB+), according to sources.
Bank of America Merrill Lynch and Barclays Capital Inc. are the lead banks on the deal.
The facility consists of a $100 million revolver and a $200 million term loan A, sources said.
Proceeds will be used to pay a dividend to L-3 Communications Holdings Inc., from which Engility is being spun off.
Engility is a Billerica, Mass.-based provider of Systems Engineering and Technical Assistance, Explosive Ordnance Disposal/Counter-IED Technical Support, Acquisition Support and NextGen Solutions.
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