PROVIDENCE – Nortek Inc., a manufacturer and distributor of building products, is seeking a $350 million term loan to refinance debt, according to a person briefed on the transaction.
UBS AG will host a lender meeting on Wednesday at 2 p.m. in New York to discuss the six-year debt, said the person, who declined to be identified because the terms are private.
Nortek will use the debt, along with $500 million of 10- year bonds, to refinance its 11 percent notes, the person said. The Providence-based company owes $753 million on the notes due December 2013, according to data compiled by Bloomberg.
