Terra Millennium to launch $585 million credit facilities on Thursday

By Sara Rosenberg

New York, June 14 – Terra Millennium Corp. is scheduled to hold a lender call at 10 a.m. ET on Thursday to launch $585 million of credit facilities (B2/B), according to a market source.

Macquarie Capital and Stifel provided the debt commitment.

The facilities consist of a $50 million five-year revolver, a $435 million seven-year first-lien term loan and a $100 million delayed-draw first-lien term loan, the source said.

Proceeds will be used to help fund the buyout of the company by H.I.G. Capital from Court Square Capital Partners.

Closing is expected in this quarter, subject to customary conditions.

Terra Millennium is a Salt Lake City-based provider of outsourced industrial maintenance services, including refractory maintenance and other specialized services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.