Vought Aircraft to launch $650 million credit facility

By Sara Rosenberg

New York, Nov. 29 - Vought Aircraft Industries Inc. is scheduled to hold a bank meeting Thursday to launch its proposed $650 million credit facility, according to a market source.

Lehman, JPMorgan and Goldman Sachs are the lead banks on the deal, with Lehman acting as left lead.

The facility consists of a $400 million term loan B with early price talk of Libor plus 275 basis points and a $250 million revolving credit facility, the source said.

Proceeds will be used to refinance existing debt.

Vought is a Dallas-based aerostructure subcontractor.

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