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Belfor to launch $250 million add-on term loan on Tuesday
By Sara Rosenberg
New York, March 7 – Belfor Holdings Inc. will hold a lender call at 11 a.m. ET on Tuesday to launch a fungible $250 million add-on first-lien term loan, according to a market source.
JPMorgan Chase Bank is the lead on the deal.
Commitments are due at the end of the day on March 14, the source added.
Proceeds will be used to fund a dividend.
Pricing on the company’s existing term loan is Libor plus 400 basis points with a 0% Libor floor.
Belfor is a Birmingham, Mich.-based disaster recovery and property restoration company.
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