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United States Filter to launch $325 million credit facility next week
By Sara Rosenberg
New York, Oct. 1 - United States Filter Corp. is expected to launch a new $325 million credit facility next week, according to market sources. JPMorgan, Goldman Sachs and UBS Warburg are the lead banks on the deal.
The loan consists of a $75 million six-year revolver with an interest rate of Libor plus 275 basis points and a $250 million seven-year term loan B with an interest rate of Libor plus 325 basis points, sources said. However, all details on the loan are subject to change.
Proceeds from the loan will be used to help fund the acquisition of United States Filter's waterworks distribution business. The business is being bought by a company jointly owned by JPMorgan Partners and Thomas H. Lee Partners for a cash purchase price of $620 million.
Unites States Filter is a Palm Desert, Calif. provider of water and wastewater systems.
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