Motor Coach Industries gets $130 million term loan in recapitalization

By Jennifer Chiou

New York, Sept. 30 – Motor Coach Industries International Inc. announced a new $130 million term loan along with the amendment and extension of its existing $115 million asset-based revolving credit facility.

Wells Fargo Capital Finance was the arranger for the asset-based revolver, and the term loan was provided by TCW Direct Lending Group.

According to a news release, the portfolio company of KPS Capital Partners, LP used the proceeds of the recapitalization to refinance outstanding debt, fund a $120 million cash distribution to investors and support continued growth.

Based in Des Plaines, Ill., the manufacturer of intercity coaches operates manufacturing facilities in Winnipeg, Man., and Pembina, N.D.

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