Euramax credit facility to launch Thursday

By Sara Rosenberg

New York, May 13 - Euramax International Inc. is scheduled to hold a bank meeting on Thursday to launch its proposed credit facility that is said to include a $465 million term loan B, according to a market source.

Goldman Sachs and Credit Suisse First Boston are joint bookrunners on the deal.

Talk is that the term loan B will be launched with pricing in the high Libor plus 200 basis points area, the source added.

Proceeds will be used to help fund the leveraged buyout of Euramax by GSCP EMAX Acquisition LLC - a newly formed company organized by Goldman Sachs Capital Partners and management of Euramax -for a price of $1.038 billion less net debt and certain company transaction expenses.

In connection with the LBO, Euramax will redeem or repurchase all of its 8.5% senior subordinated notes due 2011.

Euramax is a Norcross, Ga., producer of aluminum, steel, vinyl and fiberglass products for original equipment manufacturers, distributors, contractors and home centers.

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