Hexcel launches $350 million credit facility

By Sara Rosenberg

New York, Feb. 7 - Hexcel Corp. held a bank meeting on Monday afternoon to launch its proposed $350 million senior secured credit facility (B2/B+), according to a market source. Deutsche Bank and Bank of America are the lead banks on the deal.

The facility consists of a $125 million five-year revolver and a $225 million seven-year term loan B, the source said.

The facility is being obtained in connection with the company's tender offer for its $125 million 9.875% senior secured notes due 2008. The tender offer will expire on Feb. 28.

Hexcel is a Stamford, Conn., structural materials company.

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