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MW Industries to launch $575 million credit facilities on Tuesday
By Sara Rosenberg
New York, Sept. 14 – MW Industries is scheduled to hold a bank meeting at 10 a.m. ET on Tuesday to launch $575 million of credit facilities, according to a market source.
RBC Capital Markets, Citigroup Global Markets Inc., Jefferies LLC, Citizens Bank and Antares Capital are the joint bookrunners on the deal.
The facilities consist of a $70 million five-year revolver, a $385 million seven-year first-lien term loan and a $120 million eight-year second-lien term loan, the source said.
Proceeds will be used to help fund the buyout of the company by American Securities from Genstar.
MW Industries is a Rosemont, Ind.-based designer and manufacturer of springs and other specialty engineered metal components for diverse end markets.
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