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Spectrum Plastics to launch $680 million credit facilities Tuesday
By Sara Rosenberg
New York, Jan. 4 – Spectrum Plastics Group is scheduled to hold a bank meeting in New York on Tuesday to launch $680 million of credit facilities, according to a market source.
Antares Capital is the lead bank on the deal.
The facilities consist of a $45 million five-year revolver, a $430 million seven-year covenant-light first-lien term loan, a $45 million seven-year delayed-draw first-lien term loan and a $160 million eight-year second-lien term loan, the source said.
Proceeds will be used to help fund the acquisition of the company by AEA Investors from Kohlberg & Co.
Spectrum Plastics is an Atlanta-based designer, developer and manufacturer of highly-engineered polymer-based solutions used in medical and other specialty end-markets.
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