Goodman to launch new credit facility, bonds in early December

By Sara Rosenberg

New York, Nov. 22 - Goodman Global Holdings Inc. is expected to launch a new credit facility and a bond offering in early December to help fund Apollo Management LP's leveraged buyout of the company, according to an informed source.

JPMorgan, UBS Securities and Credit Suisse First Boston are the lead banks on both debt transactions, with JPMorgan acting as left lead on the bank deal and UBS left lead on the bond deal, the source said.

Under the agreement, Apollo will acquire Goodman for $1.43 billion. Members of the Goodman family will retain a significant investment in the company. Members of Goodman's senior management team will also acquire an interest in the new company.

Closing of the acquisition, which is expected to occur in the first quarter of 2005, is subject to obtaining approvals under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions for transactions of this nature.

Goodman is a Houston-based heating and air conditioning manufacturer.

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