Chromalox seeks $90 million credit facility at Libor plus 475 bps

By Sara Rosenberg

New York, Feb. 22 - Chromalox wrapped syndication of a $90 million credit facility that is priced at Libor plus 475 basis points with a 1.5% Libor floor and an original issue discount of 981/2, according to a market source.

The facility consists of a $15 million revolver and a $75 million term loan.

GE Capital is the lead bank on the deal.

Proceeds are being used to help fund the buyout of the company by Sentinel Capital Partners from CCMP Capital.

Chromalox is a Pittsburgh-based manufacturer of industrial and commercial heating equipment and controls.

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