Performance Fibers to get new credit facility via GECC for Sun Capital LBO

By Sara Rosenberg

New York, Nov. 4 - Performance Fibers Inc. will be approaching the bank loan market with a new credit facility to help fund Sun Capital Partners Inc.'s acquisition of the company from Honeywell International Inc., a spokesman for Sun Capital told Prospect News on Thursday.

General Electric Capital Corp. is the lead bank on the transaction, the spokesman said, adding that no further details on the financing are being released at this time.

Sun Capital will also be using equity to help fund the acquisition, which is expected to close before year-end.

Performance Fibers is a Richmond, Va., supplier of high tenacity polyester fiber and other materials.

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