Associated Materials asset-based revolver sized at $225 million

By Sara Rosenberg

New York, Sept. 29 - Associated Materials LLC's proposed five-year asset-based revolving credit facility is sized at $225 million, comprised of a $150 million U.S. tranche and a $75 million Canadian tranche, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Proceeds will be used to help fund the buyout of the company by Hellman & Friedman LLC from Investcorp and Harvest Partners in a transaction valued at $1.3 billion.

At close, about $70 million is expected to be drawn under the revolver.

Other financing for the transaction will come from $730 million of senior secured notes and equity.

Deutsche Bank and UBS Investment Bank are the lead banks on the financing.

Closing is expected in the fourth quarter.

Associated Materials is a Cuyahoga Falls, Ohio-based maker of exterior residential building products.

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