X-Rite gets $415 million debt commitment for Pantone purchase

By Sara Rosenberg

New York, Aug. 23 - X-Rite Inc. has received a commitment for up to $415 million in debt financing to fund its acquisition of Pantone, Inc., according to a news release.

Merrill Lynch, Fifth Third Bank, National City Bank, LaSalle Bank and GoldenTree Asset Management provided the debt commitment.

In addition to funding the $180 million acquisition, proceeds from the new debt will also be used to refinance X-Rite's existing debt.

The deal is expected to close in the fall, subject to customary regulatory approvals.

X-Rite is a Grand Rapids, Mich., technology company that develops color management systems. Pantone is a Carlstadt, N.J., provider of products and services for the colorful exploration and expression of creativity.

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