Greenbrier plans $275 million revolver with Meridian purchase

By Sara Rosenberg

New York, Oct. 16 - The Greenbrier Cos. plans on getting a new $275 million five-year revolving credit facility concurrently with its acquisition of Meridian Rail Holdings Corp. from Olympus Partners, company officials said in a conference call Monday.

Bank of America is the lead bank on the deal.

The purchase price for Meridian is $227.5 million in cash, plus or minus working capital adjustments. At close, $144.5 million will be drawn under the revolver, with the remaining acquisition funds coming from cash on hand, officials added in the call.

The acquisition is subject to customary closing conditions and is expected to close within the next 30 days.

Greenbrier is a Lake Oswego, Ore., supplier of transportation equipment and services to the railroad industry. Meridian is a Birmingham, Ala., supplier of wheel maintenance services to the North American freight car industry.

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