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American Rock Salt preparing to sell $200 million second-lien notes
By Paul A. Harris
Portland, Ore., April 4 - American Rock Salt plans to sell $200 million of second-lien notes, according to a market source.
Proceeds, along with proceeds from a $250 million covenant-light term loan, will be used to repay debt at the holding company and to fund a dividend.
RBS Securities Inc. is the lead bank on the loan, which was launched at a Monday bank meeting.
American Rock Salt is a Retsof, N.Y.-based producer of highway deicing rock salt.
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