Citadel Plastics to launch $185 million credit facility on Thursday

By Sara Rosenberg

New York, Jan. 30 - Citadel Plastics Holdings Inc. is set to hold a bank meeting on Thursday at 9:30 a.m. ET in New York to launch a proposed $185 million credit facility, according to a market source.

GE Capital Markets and KeyBanc Capital Markets LLC are the lead banks on the deal, with GE the left lead.

The facility consists of a $30 million five-year revolver and a $155 million six-year term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Huntsman Gay Global Capital from Wind Point Partners.

Citadel Plastics is a Chicago-based provider of thermoset and thermoplastic compounds.

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