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Stolle Machinery sets structure on $200 million credit facility ahead of Thursday launch
By Sara Rosenberg
New York, Sept. 11 - Stolle Machinery Co. LLC released details on the structure of its proposed $200 million credit facility as the deal is gearing up to launch with a bank meeting on Thursday morning at the St. Regis in New York, according to a market source.
Tranching on the facility will be comprised of a $25 million five-year revolver, a $115 million six-year term loan B and a $60 million seven-year second-lien term loan, the source said, adding that price talk is not yet available.
Goldman Sachs and Credit Suisse are joint lead arrangers on the deal.
Proceeds will be used to help fund the leveraged buyout of Stolle by Littlejohn & Co.
Stolle is a Denver-based producer of capital equipment, spare parts and services for the rigid packaging industry.
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