Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for Oriental Trading Co. Inc. > News item |
Oriental Trading sets structure on $640 million credit facility
By Sara Rosenberg
New York, June 30 - Oriental Trading Co. came out with a structure on its $640 million credit facility, which is scheduled to launch with a bank meeting on July 10, according to a market source.
JPMorgan and Wachovia are the lead banks on the deal.
The facility consists of a $50 million revolver, a $410 million first-lien term loan B and a $180 million second-lien term loan, the source said.
Proceeds from the new credit facility, along with proceeds from some holding company pay-in-kind paper that will be placed by Wachovia, will be used to help fund The Carlyle Group's leveraged buyout of Oriental Trading from Brentwood Associates.
The transaction is expected to close in the third quarter.
Oriental Trading is an Omaha, Neb., direct marketer of party and school supplies.
© 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.