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Arizona Chemical to repay first-lien bank debt with stock proceeds
By Sara Rosenberg
New York, April 12 - Arizona Chemical Ltd. plans to repay borrowings under its first-lien credit facility using proceeds from its initial public offering of common shares, according to an S-1 filed with the Securities and Exchange Commission on Monday.
Remaining proceeds will be used for general corporate purposes.
Arizona Chemical is a Jacksonville, Fla.-based supplier of pine-based chemicals.
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