Daily News: April 24, 2012

Bloomberg: Harbor Freight Tools Seeks $1 Billion Loan

Harbor Freight Tools USA Inc. is seeking a seven-year $1 billion term loan to refinance its debt and pay a dividend, Bloomberg has reported. Credit Suisse Group, Deutsche Bank and Wells Fargo are arranging the financing.

The company is also in discussions for a $400 million asset-based revolving line of credit arranged by Wells Fargo.

Harbor Freight Tools USA is a tool and equipment catalog retailer.

To read the Bloomberg article in its entirety, click here.