Apex Tool Group to launch $1.09 billion credit facilities on Monday

By Sara Rosenberg

New York, Feb. 2 – Apex Tool Group LLC is set to hold a lender call at 2 p.m. ET on Monday to launch $1,088,600,000 of credit facilities, according to a market source.

Barclays is the arranger on the deal.

The facilities consist of a $175 million revolver due 2021 and a $913.6 million term loan due 2022, the source said.

Proceeds will be used to extend an existing revolver by two years, to extend an existing term loan by two years and to redeem $125 million of the existing $450 million 7% senior notes due 2021 at the current call price of 101.75%.

Bain Capital is the sponsor.

Apex Tool is a Sparks, Md.-based manufacturer and supplier of hand and power tools for industrial, commercial and demanding do-it-yourself applications.

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