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ICP Group sets Wednesday meeting for $290 million first-lien loan
By Paul A. Harris
Portland, Ore., Oct. 6 – ICP Group will launch $290 million of first-lien financing at a bank meeting set for Wednesday, according to a market source.
Antares Capital is the lead. BMO Capital Markets is the joint lead arranger.
The financing will be governed by a total net leverage financial covenant.
Proceeds, along with proceeds from a $105 million of second-lien financing that is being raised separately, will be used to refinance debt.
ICP is an Andover, Mass.-based producer of specialty coatings, adhesives and sealants. It is owned by Audax Private Equity.
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