Aristotle launches $160 million credit facility to investors

By Sara Rosenberg

New York, June 4 – The Aristotle Corp. held a bank meeting on Thursday afternoon to launch a $160 million credit facility, according to a market source.

BNP Paribas Securities Corp. and GE Capital Markets are the leads on the deal.

The facility consists of a $30 million five-year revolver and a $130 million six-year term loan, the source said.

Price talk on the term loan is Libor plus 475 basis points with a 1% Libor floor and an original issue discount of 99.5, the source continued.

Included in the term loan is 101 soft call protection for six months and a total net leverage covenant.

Commitments are due in two weeks, the source added.

Proceeds will be used to help fund the buyout of the company by Wasserstein & Co.

Aristotle is a Stamford, Conn.-based manufacturer and marketer of educational, health care, medical technology and agricultural products.

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