GPX International Tire seeks $160 million credit facility

By Sara Rosenberg

New York, March 22 - GPX International Tire Corp. is currently in-market with a $160 million credit facility, according to a market source.

Royal Bank of Scotland is the lead bank on the deal.

The facility, which was launched with a bank meeting Tuesday, consists of a $50 million revolver and a $110 million term loan that is talked at Libor plus 250 to 275 basis points, the source said.

Proceeds will be used by the tire company to refinance debt and fund acquisitions.

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