American Pacific plans $355 million facility for buyout by H.I.G.

By Sara Rosenberg

New York, Jan. 27 - American Pacific Corp. has received a commitment for a $355 million senior secured credit facility help fund its purchase by H.I.G. Capital LLC, according to an SC TO-T filed with the Securities and Exchange Commission on Monday.

Jefferies Finance LLC is the lead on the deal.

The facility consists of a $25 million 41/2-year revolver and a $330 million five-year term loan.

Other funds for the roughly $392 million buyout will come from up to $124.3 million in equity.

Under the agreement, H.I.G. will tender for the company's common stock at a price of $46.50 per share.

Completion of the transaction is subject to, among other things, customary conditions.

American Pacific is a Las Vegas-based custom manufacturer of fine chemicals and specialty chemicals.

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