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Fairbanks Morse to launch $185 million term loan on Wednesday
By Sara Rosenberg
New York, Nov. 7 – Fairbanks Morse Defense (Arcline FM Holding LLC) is scheduled to hold a lender call at 3 p.m. ET on Wednesday to launch a non-fungible $185 million incremental first-lien term loan due June 23, 2028, according to a market source.
Jefferies LLC is the sole lead arranger on the deal.
Proceeds will be used to refinance the company’s existing $86.5 million acquisition term loan, to pay down ABL revolving credit facility borrowings and to add cash to the balance sheet.
Fairbanks Morse is a Beloit, Wis.-based provider of mission-critical propulsion and power generation systems, material handling devices, valves, actuators, motors and other hi-rel electrical components for the US Navy and US Coast Guard.
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