Q Holdings to launch $188 million credit facility on Friday

By Sara Rosenberg

New York, Nov. 19 – Q Holdings is scheduled to hold a bank meeting at 10:30 a.m. ET on Friday to launch a $188 million credit facility (B), according to a market source.

RBC Capital Markets LLC and BNP Paribas Securities Corp. are the lead banks on the deal.

The facility consists of a $25 million revolver and a $163 million seven-year term loan B, the source said.

Proceeds will be used to fund the buyout of the company by 3i Group plc for about $160 million.

Q Holdings is a Twinsburg, Ohio-based manufacturer of elastomeric products, primarily serving the automotive, medical and pharmaceutical end markets.

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