Aeroflex LBO financing to include $560 million credit facility; $370 million high-yield offering

By Sara Rosenberg

New York, June 5 - Aeroflex Inc. outlined its buyout financing package, including plans for a $560 million senior secured credit facility and $370 million of senior subordinated unsecured high-yield securities, according to a PRE 14A filed with the Securities and Exchange Commission Tuesday.

Goldman Sachs is the lead bank on the debt financing.

The credit facility consists of a $500 million term loan and a $60 million revolver.

The high-yield offering is backed by a commitment for a $370 million subordinated unsecured increasing-rate bridge loan.

Aeroflex is being bought by Veritas Capital for $1.1 billion. Stockholders will receive $14.50 per share in cash.

Closing is subject to the approval of Aeroflex's stockholders and other customary conditions.

Aeroflex is a Plainview, N.Y., provider of high technology services to the aerospace, defense, cellular and broadband communications markets.

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