Harbor Freight Tools $500 million credit facility to launch Thursday

By Sara Rosenberg

New York, June 18 - Harbor Freight Tools is scheduled to hold a bank meeting on Thursday for a proposed $500 million credit facility, according to a syndicate document. Credit Suisse First Boston and UBS are joint lead arrangers and joint bookrunners on the deal.

The facility consists of a $60 million five-year revolver and a $440 million seven-year term loan B, with pricing still to be determined, the document said.

Proceeds will be used for recapitalization purposes.

Harbor Freight Tools is a Camarillo, Calif., tool and equipment catalog retailer.

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