Moody's: Univar loan B2, notes B3

Moody's Investors Service said it assigned a B2 rating to Univar Inc.'s $750 million incremental term loan B and a B3 rating to its new senior unsecured notes due 2019.

Univar's B2 corporate family rating was affirmed.

The outlook is stable.

The proceeds from the term loan and notes, along with a $225 million draw under its revolver, will be used to refinance $1 billion of existing senior subordinated notes due 2017 through 2018 and fund a dividend of roughly $544 million to shareholders.

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