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Pelican Products to launch $530 million credit facilities on Thursday
By Sara Rosenberg
New York, April 4 – Pelican Products Inc. is scheduled to hold a lender presentation at 11 a.m. ET on Thursday to launch $530 million of senior secured credit facilities, according to a market source.
Morgan Stanley Senior Funding Inc. and Jefferies LLC are the leads on the deal.
The facilities consist of a $30 million ABL revolver, a $380 million first-lien term loan and a $120 million second-lien term loan, the source said.
Proceeds will be used to refinance existing debt.
Pelican Products is a Torrance, Calif.-based protective case and lighting equipment manufacturer.
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