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American Safety Razor $312.5 million credit facility to launch Feb. 9
By Sara Rosenberg
New York, Feb. 1 - American Safety Razor Co. is scheduled to hold a bank meeting on Feb. 9 to launch its proposed $312.5 million credit facility, according to a market source. UBS is the lead bank on the deal.
The facility consists of a $25 million five-year revolver, a $200 million seven-year first-lien term loan and an $87.5 million 71/2-year second-lien term loan, the source said, adding that price talk is not yet available.
Proceeds will be used to refinance existing debt and pay a dividend.
American Safety Razor, a J.W. Childs Associates LP portfolio company, is a Verona, Va., manufacturer of personal care consumer products primarily consisting of shaving razors and blades.
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