Global Brass and Copper to launch $330 million term loan on Thursday

By Sara Rosenberg

New York, July 27 - Global Brass and Copper Inc. is scheduled to hold a bank meeting on Thursday morning to launch its proposed $330 million term loan, according to a market source.

Goldman Sachs is the lead bank on the deal.

The loan is expected to get mid-B ratings, the source said.

The company will also be getting a $150 million ABL revolver with the existing bank group.

Proceeds from the term loan and ABL revolver will be used to refinance an existing $380 million ABL revolver and $60 million term loan.

Global Brass and Copper is an East Alton, Ill.-based manufacturer and distributor of copper and copper-alloy sheet, strip, plate, foil, rod and fabricated components.

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