Guilford Mills $60 million term B add-on to launch Friday

By Sara Rosenberg

New York, Jan. 27 - Guilford Mills Inc. is scheduled to hold a bank meeting on Friday to launch its proposed $60 million five-year term loan B add-on, according to a syndicate document.

Credit Suisse First Boston and Goldman Sachs Credit Partners are joint lead arrangers on the deal, and GE Capital Corp. is administrative agent.

The incremental term loan B is priced at Libor plus 400 basis points, the document said.

Proceeds will be used to refinance debt.

Guilford Mills is a Greensboro, N.C., designer and manufacturer of engineered fabrics for automotive, technical and apparel applications.

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