Oreck launches $200 million credit facility

By Sara Rosenberg

New York, April 17 - Oreck Corp. held a bank meeting on Tuesday morning to launch its proposed $200 million credit facility, according to a market source.

Goldman Sachs is the lead bank on the deal.

The facility consists of a $20 million revolver, a $130 million first-lien term loan talked at Libor plus 275 basis points and a $50 million second-lien term loan talked at Libor plus 550 bps, the source said.

Proceeds will be used to refinance existing debt.

Oreck is a New Orleans-based vacuum maker.

© 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.