HHI Group to launch $580 million revolver, term loan on Wednesday

By Sara Rosenberg

New York, Sept. 14 - HHI Group Holdings LLC is scheduled to hold a bank meeting on Wednesday to launch a proposed $580 million credit facility, according to a market source.

Goldman Sachs & Co., UBS Securities LLC, Macquarie Capital and Nomura are leading the deal.

The facility consists of a $75 million revolver and a $505 million term loan B, the source said.

Proceeds will be used to help fund the buyout of the company by American Securities from KPS Capital Partners LP and MC Capital Inc.

HHI is a Royal Oak, Mich.-based manufacturer of wheel bearings, engine timing drive systems and forged parts for various power train and wheel-end applications.

© 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.