Therma-Tru holds retail bank meeting for $330 million facility on Tuesday

By Sara Rosenberg

New York, Jan. 28 - Therma-Tru Corp. held a retail launch for its new $330 million credit facility on Tuesday, according to a syndicate source. CIBC World Markets is the lead bank on the deal. Fifth Third Bank and NatCity were added as agents on the deal.

The loan consists of a $75 million revolver with an interest rate of Libor plus 275 basis points and a $255 million term loan B (upsized from $230 million since the agent bank meeting) with an interest rate of Libor plus 325 basis points, the syndicate source said.

Essentially, the Maumee, Ohio fiberglass door manufacturer's new credit facility is a pricing refinancing of its existing loan.

Standard & Poor's rated Therma-Tru Corp.'s senior secured credit facility at BB-.

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