Mactec launches $130 million senior credit facility at discount of 98¾

By Sara Rosenberg

New York, Nov. 18 - Mactec Inc. launched its $130 million five-year senior credit facility on Thursday with an original issue discount of 983/4, according to a market source.

The facility consists of a $20 million revolver and a $110 million term loan, with both tranches talked at Libor plus 425 basis points with a 1.5% Libor floor.

GE Capital and Bank of America are the lead banks on the deal, with GE the left lead.

Amortization on the term loan is 5%.

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

Mactec is an Atlanta-based consulting firm providing engineering, environmental and construction services.

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