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American Greetings to launch $282 million term loan on Tuesday
By Sara Rosenberg
New York, Jan. 23 – American Greetings Corp. is set to hold a lender call at 1 p.m. ET on Tuesday to launch a roughly $282 million senior secured first-lien term loan due April 6, 2026, according to a market source.
Barclays is the agent on the deal.
The term loan has a 91-day springing maturity ahead of the company’s senior notes due April 15, 2025.
Proceeds will be used to amend and extend an existing roughly $282 million senior secured first-lien term loan due April 2024.
American Greetings is a Cleveland-based celebration solutions provider, offering greeting cards, gift packaging, party goods, gifting products and digital offerings.
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