Unifrax plans to launch $540 million credit facility on Nov. 3

By Sara Rosenberg

New York, Oct. 26 - Unifrax I LLC is scheduled to hold a bank meeting on Nov. 3 to launch a proposed $540 million credit facility, according to a market source.

Goldman Sachs & Co., Wells Fargo Securities LLC, GE Capital Markets and KeyBanc Capital Markets LLC are the lead banks on the deal.

The facility consists of a $50 million five-year revolver and a $490 million seven-year term loan B, the source said.

Proceeds will be used to help fund the buyout of the company by American Securities.

Senior net leverage is around 4.0 times.

Unifrax is a Niagara Falls, N.Y.-based supplier of high-temperature insulation products.

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