NorthStar sets Thursday lender call for $740 million term loan

By Paul A. Harris

Portland, Ore., April 24 – NorthStar Group Services, Inc. and Waste Control Specialists LLC scheduled a lender call at 12:30 p.m. ET on Thursday to launch a $740 million six-year first-lien term loan (expected ratings B2/B+), according to a market source.

The deal features a 101 soft call for six months.

The facility also contains a total leverage covenant set at five-times free cash.

The waste management and environmental services company plans to use the proceeds to refinance its ABL revolver and its first-lien term loan.

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