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Service Logic to launch $670 million of first-lien term loans Tuesday
By Sara Rosenberg
New York, Oct. 9 – Service Logic Acquisition Inc. (Saber Merger Sub Inc.) is scheduled to hold a lender call on Tuesday morning to launch $670 million of first-lien term loans (B), according to market sources.
J.P. Morgan Securities LLC is the lead bank on the deal.
The debt consists of a $520 million seven-year first-lien term loan and a $150 million delayed-draw first-lien term loan, sources said.
The loans will be sold as a strip.
Proceeds will be used to help fund the buyout of the company by Leonard Green & Partners LP.
Commitments are due at 5 p.m. ET on Oct. 22, sources added.
Service Logic is a Charlotte, N.C.-based provider of aftermarket maintenance, repair and replacement services for commercial HVAC equipment, chilled water systems, and building automation and controls systems.
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