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Hudson Products to launch $250 million credit facility on Monday
By Sara Rosenberg
New York, July 25 - Hudson Products Corp. is scheduled to hold a bank meeting on Monday afternoon in New York to launch its proposed $250 million credit facility, according to a market source.
BNP Paribas is the lead bank on the deal.
The facility consists of a $30 million five-year revolver and a $220 million seven-year term loan B, the source said, adding that price talk is expected to emerge at the launch.
Proceeds will be used to help fund the buyout of the company by Riverstone Holdings LLC from Sterling Group LP.
Other buyout financing will come form $125 million of mezzanine debt.
Hudson is a Sugar Land, Texas, designer and manufacturer of air-cooled heat exchanger equipment to serve the oil, gas and petrochemical processing industries.
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