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North American Central School Bus gets $220 million credit facilities
By Sara Rosenberg
New York, Sept. 13 – North American Central School Bus closed on $220 million of credit facilities, according to a market source.
The facilities consist of a $125 million ABL revolver, a $75 million second-lien term loan and a $20 million delayed-draw second-lien term loan, the source said.
MUFG acted as the sole lead arranger and bookrunner on the ABL revolver and joint lead arranger and joint bookrunner with Evolution Credit Partners on the term loan debt.
Proceeds were used to fund the buyout of the company by H.I.G. Capital in August.
North American Central School Bus is a Joliet, Ill.-based student transportation provider.
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