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Wesco Aircraft sets Wednesday launch for $525 million term loan B
By Sara Rosenberg
New York, Feb. 11 - Wesco Aircraft Holdings Inc. scheduled a bank meeting for Wednesday to launch its proposed $525 million term loan B, according to a market source.
Bank of America Merrill Lynch, Barclays, Morgan Stanley Senior Funding Inc. and RBC Capital Markets are the lead banks on the deal.
Proceeds will be used to help fund the acquisition of Haas Group Inc. for $550 million in cash, subject to certain closing adjustments, from The Jordan Co. LP.
Other funds for the transaction will come from cash on hand and borrowings under the company's existing revolving credit facility.
The company's existing credit facility will need to be amended to provide for the new term loan B.
Closing is expected by the end of this quarter, subject to customary conditions.
Wesco is a Valencia, Calif.-based provider of comprehensive supply chain management services to the aerospace industry. Haas is a West Chester, Pa.-based provider of chemical supply chain management solutions to the commercial aerospace, airline, military, energy and other markets.
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