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FR Refuel to launch $300 million of term loans on Tuesday
By Sara Rosenberg
New York, Oct. 14 – FR Refuel LLC is set to hold a lender meeting at 1 p.m. ET on Tuesday to launch $300 million of term loans, according to a market source.
Citizens Bank is the lead arranger and administrative agent on the deal.
The debt consists of a $265 million seven-year covenant-lite first-lien term loan and a $35 million covenant-lite delayed-draw term loan, the source said.
Proceeds will be used to refinance existing debt.
First Reserve is the sponsor.
FR Refuel is a Charleston, S.C.-based regional convenience store operator.
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