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Culligan to launch $2.48 billion credit facilities on Monday
By Sara Rosenberg
New York, June 4 – Culligan (Osmosis Debt Merger Sub Inc.) is scheduled to hold a lender call at 11 a.m. ET on Monday to launch $2.475 billion of senior secured credit facilities, according to a market source.
Morgan Stanley Senior Funding Inc. is the left lead arranger on the deal.
The facilities consist of a $225 million revolver, a $2 billion first-lien term loan B and a $250 million delayed-draw term loan, the source said.
Proceeds will be used to fund the acquisition of a majority interest in the company by BDT Capital Partners LLC from Advent International and Centerbridge Partners LP. Advent will reinvest to acquire a minority stake in the business.
Culligan is a Rosemont, Ill.-based provider of water treatment products and services.
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