Unifrax plans to launch $450 million credit facility on Wednesday

By Sara Rosenberg

New York, Jan. 14 - Unifrax I LLC set a bank meeting for Wednesday afternoon to launch a new $450 million credit facility, according to a market source.

Goldman Sachs & Co. is the lead bank on the deal.

The facility consists of a $50 million revolver and a $400 million covenant-light term loan, the source said.

Proceeds will be used to refinance existing debt and to help fund an acquisition.

Unifrax is a Niagara Falls, N.Y.-based supplier of high-temperature insulation products.

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