Haas Group to launch $210 million credit facility on Thursday

By Sara Rosenberg

New York, March 19 - Haas Group International is scheduled to hold a bank meeting on Thursday morning to launch a $210 million credit facility, according to a market source.

Bank of Ireland is the lead bank on the deal.

The facility consists of a $30 million revolver and a $180 million term loan B, the source said.

Price talk on both tranches is Libor plus 425 basis points with an original issue discount in the 99 area, the source continued. The term loan B has a 1% Libor floor, while the revolver has no floor.

Proceeds will be used to refinance existing debt and fund a dividend.

Haas Group is a chemical supply chain management services company and a distributor of aerospace chemicals and consumables.

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