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UBS to launch $215 million loan late February or early March for Gundle/SLT acquisition
By Sara Rosenberg
New York, Jan. 6 - A $215 million credit facility to back the acquisition of Gundle/SLT Environmental Inc. by Code Hennessy & Simmons LLC will be launched into the primary bank loan market at the end of February or beginning of March, according to a source close to the deal. UBS will act as sole bookrunner.
Under the acquisition agreement, all of Gundle/SLT's common stock will be converted into cash at the rate of $18.50 per share. Completion of the transaction is subject to financing, antitrust clearances and shareholder approval.
Gundle/SLT is a Houston manufacturer and marketer of geosynthetic lining solutions, products and services.
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