Escort seeks $114 million credit facility

By Sara Rosenberg

New York, July 27 - Escort Inc. is currently in market with a $114 million credit facility, according to a market source.

GE Capital is the lead bank on the deal that launched with a bank meeting on Thursday.

The facility consists of a $10 million revolver and a $104 million term loan, with both tranches talked at Libor plus 325 basis points, the source said.

Proceeds will be used for a recapitalization.

Escort is a West Chester, Ohio, manufacturer of radar detectors, laser detectors and vehicle performance computers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.