MB Aerospace to launch $185 million credit facility on Dec. 1

By Sara Rosenberg

New York, Nov. 24 – MB Aerospace is scheduled to hold a bank meeting on Dec. 1 to launch a $185 million credit facility, according to a market source.

SG Americas Securities LLC is the lead arranger on the deal.

The facility consists of a $35 million revolver and a $150 million first-lien term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Blackstone from Arlington Capital Partners.

Equity will be greater than 50% of total pro forma capitalization, the source added.

Closing is expected this year, subject to customary regulatory approvals.

MB Aerospace is a Motherwell, Scotland-based Tier I engine component manufacturer and repair business.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.