Mold-Masters launches $317 million credit facility

By Sara Rosenberg

New York, Oct. 16 - Mold-Masters held a bank meeting on Tuesday to launch its proposed $317 million credit facility, according to a market source.

SocGen is the lead bank on the deal.

The facility consists of a $31 million six-year revolver and a $286 million seven-year term loan, with both tranches talked at Libor plus 350 basis points, the source said.

Proceeds will be used to help fund the buyout of the company by 3i.

Mold-Masters is a Georgetown, Canada, manufacturer of hot runner systems for the plastic injection molding industry.

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