Maxim Crane Works launches $285 million credit facility

By Sara Rosenberg

New York, Feb. 2 - Maxim Crane Works held a conference call at 1 p.m. ET on Thursday to officially launch its proposed $285 million credit facility, according to a market source.

Goldman Sachs is the lead bank on the deal.

The facility consists of a $235 million term loan talked at Libor plus 225 basis points and a $50 million revolver, the source said.

Proceeds from the deal will be used to refinance the company's existing bank debt, including taking out its second-lien term loan.

Maxim Crane is a Bridgeville, Pa.-based crane rental company.

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