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Authentic Brands to launch $195 million in term loans on Thursday
By Sara Rosenberg
New York, June 9 – Authentic Brands Group is set to hold a lender call on Thursday to launch $195 million in incremental term loans, according to a market source.
Bank of America Merrill Lynch is the lead bank on the deal.
The debt consists of a $120 million incremental first-lien covenant-light term loan due in 2021 and a $75 million incremental second-lien covenant-light term loan due in 2022, the source said.
Proceeds will be used to repay equity and revolver borrowings used for acquisitions.
Authentic Brands is a New York-based brand development and licensing company.
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