Advanced Integration Technology launches $375 million credit facility

By Sara Rosenberg

New York, July 15 – Advanced Integration Technology LP launched at its bank meeting on Wednesday a $375 million credit facility, according to a market source.

The facility is split between a $60 million revolver and a $315 million seven-year first-lien term loan, the source said.

Price talk on the term loan is Libor plus 500 basis points with a 1% Libor floor and an original issue discount of 99, the source continued.

The term loan has 101 soft call protection for six months.

UBS Investments Bank, Citigroup Global Markets Inc. and SunTrust Robinson Humphrey Inc. are the leads on the deal.

Commitments are due on June 29, the source added.

Proceeds will be used for a recapitalization.

Advanced Integration is a Plano, Texas-based industrial automation and tooling company delivering turnkey factory integration to the aerospace industry.

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