OEConnection to launch $435 million credit facilities on Monday

By Sara Rosenberg

New York, Nov. 1 – OEConnection LLC is scheduled to hold a bank meeting in New York on Monday to launch $435 million of senior credit facilities, according to a market source.

Antares Capital and CapitalOne are the joint lead arrangers on the deal.

The facilities consist of a $35 million six-year revolver, a $300 million seven-year covenant-light term loan and a $100 million eight-year second-lien term loan, the source said.

Proceeds will be used for a recapitalization.

OEConnection, a Providence Equity Partners LLC portfolio company, is a Richfield, Ohio-based provider of SaaS solutions that help drive genuine OE parts sales and services across the automotive system.

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