Accuride plans $300 million credit facility for buyout by Crestview

By Sara Rosenberg

New York, Sept. 30 – Accuride Corp. has received a commitment for a $300 million credit facility to help fund its acquisition by Crestview Partners for $2.58 per share in cash, according to a PREM14A filed with the Securities and Exchange Commission on Friday.

RBC Capital Markets is the lead bank on the debt.

The facility consists of a $65 million asset-based revolver and a $235 million senior secured term loan.

Other funds for the transaction will come from about $222 million in equity and cash on hand.

Closing is expected in the fourth quarter, subject to customary conditions, including Accuride shareholder approval and antitrust approvals in the United States and Mexico.

Accuride is an Evansville, Ind.-based supplier of components to the commercial vehicle industries.

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