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Fender Musical to launch $320 million credit facility Wednesday
By Sara Rosenberg
New York, March 7 - Fender Musical Instruments Corp. is scheduled to hold a bank meeting Wednesday to launch its proposed $320 million credit facility, according to a market source.
Goldman Sachs is the lead bank on the deal.
The facility consists of a $50 million revolving credit facility, a $170 million term loan and a $100 million second-lien term loan, the source said.
Proceeds will be used for a recapitalization.
Fender is a Scottsdale, Ariz., manufacturer of guitars, amplifiers and related equipment.
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