Airborne seeks $180 million credit facility

By Sara Rosenberg

New York, Nov. 13 - Airborne Inc. is currently in market with a $180 million credit facility, according to a market source.

BNP Paribas is the lead bank on the deal.

The facility consists of a $20 million revolver and a $160 million institutional term loan talked at Libor plus 350 basis points, the source said.

Proceeds from the deal, which was launched last week, will be used to fund a dividend recapitalization.

Airborne is an herbal preventative cold remedy.

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