Freedom Group to launch $330 million term loan B on Tuesday

By Sara Rosenberg

New York, March 30 - Freedom Group Inc. is set to hold a bank meeting on Tuesday to launch a proposed $330 million seven-year covenant-light term loan B, according to a market source.

Bank of America Merrill Lynch, Deutsche Bank Securities Inc. and RBC Capital Markets LLC are the lead banks on the deal.

Proceeds will be used to help repurchase notes.

On Friday, the company announced tender offers for $245.2 million of 11¼%/11¾% senior PIK notes due 2015 at FGI Holding Co. and $247.5 million of 10¼% senior secured notes due 2015 at FGI Operating Co. LLC.

The tender offers will expire on April 27.

Freedom Group is a Madison, N.C.-based designer, manufacturer and marketers of firearms, ammunition and related products for the hunting, shooting sports, law enforcement and military markets.

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