SunSource to launch $2.19 billion credit facilities on Wednesday

By Sara Rosenberg

New York, March 5 – SunSource (CD&R Hydra Buyer Inc./STS Operating Inc.) is set to hold a bank meeting at 10 a.m. ET on Wednesday to launch $2.185 billion of credit facilities, according to a market source.

UBS Investment Bank is the left lead arranger on the deal.

The facilities consist of a $500 million five-year ABL revolver and a $1.685 billion seven-year first-lien term loan, the source said.

Proceeds will be used to refinance the company’s existing capital structure, to fund a distribution to shareholders, to pay original issue discount, fees and expenses, and to add cash to the balance sheet.

SunSource is an Addison, Ill.-based distributor of highly technical products, solutions and services.

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