Atrium to launch $375 million credit facility, bring $125 million bond deal

By Sara Rosenberg

New York, Nov. 29 - Atrium Cos. Inc. is scheduled to hold a bank meeting Thursday to launch its proposed $375 million senior secured credit facility, according to a market source.

UBS is the sole lead arranger on the deal.

The company is also expected to approach the high-yield market with a $125 million bond offering, the source said.

The credit facility consists of a $50 million five-year revolving credit facility talked at Libor plus 225 basis points and a $325 million seven-year term loan B talked at Libor plus 250 basis points, the source said.

Proceeds from the debt transactions will be used to fund a refinancing plan that includes tendering for all 10½% senior subordinated notes due 2009 and repaying all outstanding bank debt.

The purpose of the refinancing is to lower overall interest expense and extend debt maturities, according to a company news release.

Atrium is a Dallas manufacturer and supplier of residential windows.

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