Wyle Laboratories launches $230 million credit facility

By Sara Rosenberg

New York, Dec. 4 - Wyle Laboratories Inc. held a bank meeting on Tuesday morning to launch its proposed $230 million credit facility, according to a market source.

Wachovia and CIT Group are the lead banks on the deal.

The facility consists of a $30 million revolver and a $200 million term loan B, with both tranches talked at Libor plus 400 basis points, the source said.

The term loan B is being offered with an original issue discount in the 99 to 99½ area, the source added.

Proceeds will be used for an acquisition.

Wyle is an El Segundo, Calif.-based provider of specialized engineering, scientific and technical services.

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