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HGI Holdings slates new credit facility for buyout by CD&R, GS Capital
By Sara Rosenberg
New York, July 27 - HGI Holdings Inc. is planning to get a new credit facility to help fund its buyout by Clayton, Dubilier & Rice LLC and GS Capital Partners, according to a market source.
Goldman Sachs, Jefferies and Morgan Stanley, as well as funds managed by GSO Capital Partners LP, are providing the financing, with Goldman the left lead on the bank deal.
The company is being bought from the Jordan Co. and members of the Harrington family.
The transaction is expected to close in the beginning of the fourth quarter.
HGI is a Cleveland-based mail-order, direct-to-home provider of specialty medical products for chronic disease patients.
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