RBC Bearings gets $150 million revolver via JPMorgan and KeyBanc

By Sara Rosenberg

New York, Nov. 30 - RBC Bearings Inc. closed on a new $150 million five-year senior secured revolving credit facility, according to a news release.

JPMorgan and KeyBanc Capital Markets acted as the co-lead arrangers on the deal.

Initial pricing on the revolver is Libor plus 150 basis points.

There is a $100 million accordion feature.

Proceeds were used to refinance an existing facility that was set to mature in June 2011 and are available for working capital and potential acquisitions.

RBC Bearings is an Oxford, Conn.-based manufacturer of highly engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries.

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