Dalbo seeks $277 million credit facility

By Sara Rosenberg

New York, Sept. 20 - Dalbo Inc. is currently in market with a $277 million credit facility, according to a market source.

GE Capital is the lead bank on the deal, which launched last week.

The facility consists of a $20 million revolver, a $247 million term loan and a $10 million capex loan, with all tranches talked at Libor plus 350 basis points, the source said.

The term loan is being offered to investors with an original issue discount of 991/2.

Proceeds will be used to refinance existing debt and fund an acquisition.

At close, senior leverage will be 2.8 times and total leverage will be 3.4 times on EBITDA of $91 million.

Dalbo is a Vernal, Utah, provider of services and materials to oil and gas exploration sites in Eastern Utah and Western Colorado.

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