Allon Science & Technology $130 million credit facility to launch Wednesday

By Sara Rosenberg

New York, June 24 - Allon Science & Technology is scheduled to hold a bank meeting on Wednesday for a proposed $130 million credit facility, according to a syndicate document. Credit Suisse First Boston is the sole lead arranger and bookrunner on the deal.

The facility consists of a $30 million revolver with an interest rate of Libor plus 275 basis points and a 50 basis points commitment fee, and a $100 million term loan with an interest rate of Libor plus 275 basis points. The tenor of the two tranches is still to be determined, the document said.

Proceeds will be used to refinance existing debt.

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