ArrMaz Custom Chemicals to launch $140 million facility Wednesday

By Sara Rosenberg

New York, July 13 - ArrMaz Custom Chemicals Inc. is scheduled to hold a bank meeting on Wednesday to launch its proposed $140 million credit facility, according to a market source.

UBS is the lead arranger and bookrunner on the deal.

The facility consists of a $15 million six-year revolver and a $125 million six-year term loan B, with both tranches talked at Libor plus 250 basis points, the source said.

Proceeds will be used to help fund GSO Capital Partners' leveraged buyout of the company from Wind Point Partners.

In addition to the credit facility, the company is also getting a $52.5 million second-lien term loan that was self arranged by GSO and is fully subscribed at pricing of Libor plus 625 bps, the source added.

ArrMaz Custom Chemicals is a Mulberry, Fla., specialty chemicals manufacturer for the fertilizer asphalt and mining industries.

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