C.H.I. Overhead seeks $268 million credit facility via GE Capital

By Sara Rosenberg

New York, March 6 - C.H.I. Overhead Doors Inc. is seeking a $268 million credit facility, according to a market source.

GE Capital Markets is leading the deal.

The facility consists of a $20 million revolver (B3), a $180 million first-lien term loan (B3) and a $68 million second-lien term loan, the source said.

The revolver and first-lien term loan are talked at Libor plus 425 basis points with a 1.25% Libor floor and an original issue discount of 991/2, the source added.

Proceeds will be used to refinance existing debt and fund a dividend.

C.H.I. Overhead is an Arthur, Ill.-based manufacturer of residential, commercial and rolling steel overhead garage doors.

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