Stanadyne $100 million credit facility to launch Tuesday

By Sara Rosenberg

New York, July 15 - A bank meeting for Stanadyne Corp.'s $100 million credit facility has been scheduled for July 20, according to a market source. Goldman Sachs is the sole lead bank on the deal.

The facility consists of a $35 million five-year asset-based revolver with an interest rate of Libor plus 225 basis points and a $65 million six-year covenant-light term loan with an interest rate of Libor plus 375 basis points, the source said.

As previously reported, proceeds will be used to help fund a leveraged buyout of the company by an affiliate of Kohlberg & Co. LLC.

The LBO, which is expected to close during the third quarter, is subject to customary closing conditions.

Stanadyne is a Windsor, Conn. provider of technology and services for engine components and fuel systems.

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