Scotsman Industries launches $145 million credit facility via GE, UBS

By Sara Rosenberg

New York, April 7 - Scotsman Industries Inc. held a bank meeting on Wednesday afternoon to launch its proposed $145 million credit facility, according to market sources.

GE Capital and UBS are the lead banks on the deal, with GE the left lead.

The facility consists of a $30 million revolver and a $115 million term loan that is talked at Libor plus 450 basis points with a 1.75% Libor floor and an original issue discount of 99, sources said.

Proceeds will be used to refinance existing debt and fund a dividend.

Scotsman Industries, a portfolio company of Warburg Pincus, is a Vernon Hills, Ill.-based manufacturer of commercial ice machines and related products.

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