Quality Home Brands $420 million credit facility to launch Thursday

By Sara Rosenberg

New York, May 15 - Quality Home Brands is scheduled to hold a bank meeting on Thursday afternoon to launch its proposed $420 million credit facility, according to a market source.

Bear Stearns and BNP Paribas are the lead banks on the deal, with Bear Stearns the left lead.

The facility consists of a $30 million six-year revolver, a $270 million 61/2-year first-lien term loan and a $120 million seven-year second-lien term loan, the source said.

Proceeds will be used to fund the acquisition of a lighting company and to refinance existing bank debt.

Quality Home Brands is a Bronx, N.Y., lighting fixtures, ceiling fans and decorative products company.

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