Husky Injection Molding to launch $495 million credit facility on Nov. 7

By Sara Rosenberg

New York, Oct. 25 - Husky Injection Molding Systems Ltd. is scheduled to hold a bank meeting on Nov. 7 to launch its proposed $495 million credit facility, according to a market source.

RBC Capital is the lead bank on the deal.

The facility consists of an $85 million revolver and a $410 million term loan, with both tranches talked at Libor plus 325 basis points, the source said.

The term loan will be offered with an original issue discount, but that discount is still to be determined, the source added.

Proceeds will be used to help fund the buyout of the company by Onex Corp. for C$8.235 per share for those held by all shareholders other than Robert and Elizabeth Schad and their holding company, and C$8.10 per share for the shares held by the Schads and their holding company. The total transaction value is about C$960 million.

Husky Injection Molding is a Bolton, Ont., supplier of injection molding equipment and services to the plastics industry.

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