Hillman to launch credit facility amendment and repricing on Monday

By Sara Rosenberg

New York, April 8 - Hillman Group Inc. is scheduled to hold a conference call on Monday morning to launch an amendment and repricing of its existing credit facility, according to a market source.

Barclays Capital Inc. is the lead bank on the deal.

Details on the transaction will emerge with the call, the source said.

In 2010, the company obtained a $320 million senior secured credit facility for its buyout by Oak Hill Capital Partners consisting of a $30 million five-year revolver and a $290 million six-year term loan B.

At close, pricing on the term loan B and the revolver was Libor plus 375 basis points with a 1.75% Libor floor, with the revolver having a 75 bps undrawn fee. The term loan B was sold at an original issue discount of 99½ and the revolver was sold at 98.

Hillman is a Cincinnati-based distributor of fasteners, key duplication systems, engraved tags and related hardware items.

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