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Generac to bring new credit facility via JPMorgan and Goldman Sachs
By Sara Rosenberg
New York, Jan. 10 - Generac Power Systems Inc. is planning to come to market with a new senior secured credit facility, according to a news release.
J.P. Morgan Securities LLC and Goldman Sachs & Co. are the lead banks on the deal, a market source told Prospect News.
The facility is expected to include a revolver, a term loan A and a term loan B.
Proceeds will be used to refinance a revolver due in November 2012 and a term loan due in November 2013 as well as for other general corporate purposes.
The company also said that it expects to report total consolidated cash at Dec. 31 of about $93 million and total outstanding debt of around $598 million as of the same date.
Generac is a Waukesha, Wis.-based designer and manufacturer of generators and other engine powered products.
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