Aber Diamond gets new $175 million credit facility

By Sara Rosenberg

New York, March 3 - Aber Diamond Corp. said it closed on a new $175 million senior secured credit facility. Canadian Imperial Bank of Commerce and The Bank of Nova Scotia were the lead banks on the deal.

The facility consists of a $100 million term loan and a $75 million revolver, with both tranches set to mature on Dec. 15, 2008.

Pricing on the term loan and the revolver can range between Libor plus 150 basis points to Libor plus 262.5 basis points, according to a company news release.

Proceeds were used to refinance the company's $230 million project loan facility.

Aber Diamond is a Toronto, Ont., diamond marketing company.

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