Actuant Electrical LBO financing to include $60 million senior subordinated notes

By Paul A. Harris and Sara Rosenberg

New York, Nov. 6 - Actuant Electrical plans to sell $60 million senior subordinated notes to help fund the leveraged buyout of the company by Sentinel Capital Partners from Actuant Corp, according to a market source.

Other financing for the $258 million cash buyout includes a $150 million credit facility set to launch on Tuesday.

RBC Capital Markets and NXT Capital are the lead banks on credit facility.

Actuant Electrical is a Menomonee Falls, Wis.-based provider of products for the retail do-it-yourself, marine, industrial OEM and wholesale electrical markets.

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