Hunter Fan to launch $295 million credit facility Thursday

By Sara Rosenberg

New York, March 12 - Hunter Fan Co. is scheduled to hold a bank meeting on Thursday to launch its proposed $295 million credit facility, according to a market source.

JPMorgan is the lead bank on the deal.

The facility consists of a $60 million revolving credit facility, a $145 million first-lien term loan talked around Libor plus 250 basis points, a $15 million delayed-draw term loan talked around Libor plus 250 bps and a $75 million second-lien term loan talked around Libor plus 625 bps, the source said.

Proceeds will be used to fund the leveraged buyout of the company by MidOcean Partners.

Hunter Fan is a Memphis-based home comfort company that offers ceiling fans, portable fans, air purifiers, humidifiers, thermostats and vaporizers.

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