General Cable to draw on asset-based revolver for Alcan Cable purchase

By Sara Rosenberg

New York, May 21 - General Cable Corp. plans to use borrowings under its asset-based revolving credit facility to fund the $185 million acquisition of Alcan Cable from Rio Tinto plc, according to a news release.

Closing is expected in the second half of this year, subject to receipt of regulatory approval.

General Cable is a Highland Heights, Ky.-based developer, designer, manufacturer, marketer and distributor of copper, aluminum and fiber optic wire and cable products. Alcan Cable is an Atlanta-based producer of aluminum cable for the utility and building industries.

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