Mueller Industries completes $350 million unsecured credit facility

By Sara Rosenberg

New York, March 11 - Mueller Industries Inc. closed on a new $350 million five-year unsecured revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Friday.

Bank of America Merrill Lynch and SunTrust Robinson Humphrey acted as the joint lead arrangers and bookrunners on the deal that was completed on March 7, with Bank of America the left lead.

Pricing on the revolver can range from Libor plus 150 basis points to 200 bps, and the commitment fee can range from 25 bps to 37.5 bps based on the company's debt to capitalization ratio. Initial pricing is Libor plus 175 bps with a 30 bps commitment fee.

Proceeds are available for working capital, acquisitions and other general corporate purposes.

Mueller Industries is a Memphis, Tenn.-based manufacturer of copper, brass, plastic and aluminum products.

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