Aircast launches $85 million credit facility

By Sara Rosenberg

New York, Oct. 28 - Aircast Inc. held a bank meeting on Thursday to launch its $85 million credit facility, according to a syndicate document. Credit Suisse First Boston and Wachovia are joint lead arrangers and joint bookrunners on the deal.

The facility consists of a $5 million five-year revolver with an interest rate of Libor plus 325 basis points and a 50 basis point commitment fee, a $50 million six-year term loan B with an interest rate of Libor plus 325 basis points and a $30 million 61/2-year second-lien term loan with an interest rate of Libor plus 700 basis points, the document said.

Proceeds will be used for LBO financing, the document added.

Aircast is a Summit, N.J., manufacturer of orthopedic devices.

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