WII Components plans $238.5 million credit facility for buyout by Olympus

By Sara Rosenberg

New York, Dec. 12 - WII Components Inc. is planning on getting a new $238.5 million senior secured credit facility in connection with its buyout by Olympus Partners and bond tender offer, according to an offer to purchase and consent solicitation statement.

Credit Suisse is the lead bank on the deal.

The facility consists of a $25 million revolver, a $150 million first-lien term loan and a $63.5 million second-lien term loan.

In addition to helping fund the buyout and the tender offer for WII's $120 million of 10% senior notes due 2012, proceeds from the facility will be used to refinance WII's existing credit facility.

Olympus' affiliate WII Holding, Inc. is buying WII Components from Behrman Capital III LP for an enterprise value of $295.5 million.

WII Components is a St. Cloud, Minn., outsourced manufacturer of hardwood and engineered wood doors and components to the North American kitchen and bath cabinet market.

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