Consolidated Aerospace to launch $265 million credit facility on Thursday

By Sara Rosenberg

New York, July 10 – Consolidated Aerospace Manufacturing LLC is scheduled to hold a bank meeting on Thursday to launch a $265 million credit facility, according to a market source.

Citizens Bank is the lead on the deal.

The facility consists of a $25 million five-year revolver and a $240 million seven-year covenant-light term loan, the source said.

The term loan has 101 soft call protection for six months and amortization of 1% per annum.

Proceeds will be used to refinance existing debt.

Consolidated Aerospace is a manufacturer of components principally for the aerospace industry.

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