Wastequip sets Friday launch for $381 million credit facility

By Sara Rosenberg

New York, Jan. 3 - Wastequip Inc. has scheduled a bank meeting for Friday to launch its proposed $381 million credit facility, according to a syndicate document.

Credit Suisse is the lead bank on the deal.

The facility consists of a $50 million five-year revolver, an $85 million six-year delayed-draw term loan B and a $246 million six-year term loan B, the document said.

Previously, all that was known on the deal was that it would be January business.

Proceeds from the facility will be used to help fund Odyssey Investment Partners, LLC's leveraged buyout of the company from DLJ Merchant Banking Partners.

Completion of the transaction is expected to occur in the first quarter.

Wastequip is a Cleveland-based designer, manufacturer and marketer of equipment used to collect, process and transport solid, liquid and semi-liquid waste materials.

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