Mannington Mills to launch $425 million credit facilities on July 10

By Sara Rosenberg

New York, July 1 – Mannington Mills is scheduled to hold a bank meeting on July 10 to launch $425 million of credit facilities, according to a market source.

The facilities consist of a $125 million asset-based revolver and a $300 million seven-year term loan B, the source said.

RBC Capital Markets and SunTrust Robinson Humphrey are the joint lead arrangers on the term loan. BofA Securities Inc. is the left lead and agent on the revolver.

Proceeds will be used to refinance existing debt.

Commitments will be due and closing and funding are expected during the week of July 22, the source added.

Mannington is a Salem, N.J.-based manufacturer of flooring solutions to customers in both the commercial and residential construction markets.

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