Goodman Global sets Tuesday launch for $1.1 billion credit facility

By Sara Rosenberg

New York, Jan. 11 - Goodman Global Inc. has scheduled a bank meeting for Tuesday morning to launch its proposed $1.1 billion senior secured credit facility, according to a market source.

The facility consists of an $800 million term loan B and a $300 million ABL revolver, the source said.

Barclays Capital, Calyon and GE Capital are the lead banks on the deal, with Barclays the left lead on the term loan and GE the left lead on the revolver.

Proceeds will be used to help fund the buyout of the company by Hellman & Friedman LLC for $25.60 in cash per share. The transaction is valued at $2.65 billion.

In addition, the company plans on getting $500 million of senior subordinated financing from vehicles managed by GSO Capital Partners and Farallon Capital Management, LLC, according to filings with the Securities and Exchange Commission.

Goodman Global is a Houston-based manufacturer of residential and light commercial heating, ventilation and air-conditioning equipment.

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