Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers N > Headlines for National Response Corp. > News item |
National Response to launch $160 million credit facility on Wednesday
By Sara Rosenberg
New York, Feb. 24 - National Response Corp. will hold a bank meeting at 10 a.m. ET on Wednesday to launch a $160 million credit facility, according to a market source.
BNP Paribas Securities Corp. is the lead bank on the deal.
The facility consists of a $15 million five-year revolver and a $145 million six-year term loan, the source said.
The term loan is talked in the Libor plus low 400 basis points area with a 1% Libor floor, the source continued.
Included in the term loan is 101 soft call protection for six months and a net leverage test.
Expected ratings are in the mid-B's, the source added.
Proceeds will be used to fund two acquisitions.
National Response is a Great River, N.Y.-based provider of United States Oil Pollution Act of 1990 regulatory compliance and emergency response services, and diversified environmental, industrial, and emergency response solutions.
© 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.