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Foley Products to launch $370 million term loan on Thursday
By Sara Rosenberg
New York, Jan. 26 – Foley Products Co. LLC is set to hold a lender call at 2 p.m. ET on Thursday to launch a $370 million seven-year covenant-lite first-lien term loan, according to a market source.
Credit Suisse Securities (USA) LLC and Truist are the lead arrangers on the deal.
The term loan has 101 soft call protection for six months, the source said.
Commitments are due at 5 p.m. ET on Feb. 10.
Proceeds will be used to recapitalize Foley in conjunction with a minority investment from Oaktree Capital for a 37% stake in the company.
Foley is a Columbus, Ga.-based producer of precast concrete products.
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