MAAX gets $215 million credit facility

By Sara Rosenberg

New York, Jan. 12 - MAAX Corp. closed on a new $215 million credit facility due June 2009, according to a company news release.

Brookfield Bridge Lending Fund Inc. acted as the agent on the deal.

The facility, which was completed on Jan. 9, consists of a $40 million revolving credit facility and a $175 million term loan, with both tranches priced at Libor plus 435 basis points.

Proceeds were used to repay in full the company's existing senior secured credit facility and will also be available for ongoing working capital requirements and for general corporate purposes.

MAAX is a Montreal-based manufacturer of bathroom products and spas for the residential housing market.

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