Ohmstede to launch new credit facility next week

By Sara Rosenberg

New York, July 11 - Ohmstede Ltd. is expected to hold a bank meeting sometime next week to launch a proposed credit facility, according to a market source.

Morgan Stanley and Credit Suisse are the lead banks on the deal, with Morgan Stanley the left lead.

It is anticipated that the launch may occur on July 18 or July 19, but firm details on timing are not yet available, the source said.

Proceeds will be used to help fund First Reserve Corp.'s leveraged buyout of Ohmstede from Tanglewood Investments Inc.

Ohmstede is a Beaumont, Texas, company that manufactures and maintains heat exchangers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.