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Houghton International to launch $200 million credit facility on Wednesday
By Sara Rosenberg
New York, Nov. 6 - Houghton International Inc. is scheduled to hold a bank meeting on Wednesday to launch its proposed $200 million credit facility, according to a market source.
Bank of Ireland and GE Capital are the lead banks on the deal, with Bank of Ireland the left lead.
The facility consists of a $40 million revolver and a $160 million term loan, the source said.
Proceeds will be used to help fund the buyout of the company by AEA Investors LLC.
Houghton International is a Valley Forge, Pa., manufacturer and supplier of industrial fluids and chemical management services.
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