Camin Cargo Control to launch $150 million term loan on June 9

By Sara Rosenberg

New York, June 2 – Camin Cargo Control will hold a bank meeting on June 9 to launch a $150 million six-year term loan, according to a market source.

Citizens Bank is the lead on the deal.

Price talk on the term loan is Libor plus 475 basis points with a 1% Libor floor and an original issue discount that is still to be determined, the source said.

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

Proceeds will be used to help fund the buyout of the company by Metalmark Capital.

Camin Cargo Control is a Linden, N.J.-based provider of inspection and laboratory testing services to the petroleum industry.

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