Electrical Components to launch $795 million credit facilities Monday

By Sara Rosenberg

New York, May 31 – Electrical Components International Inc. is scheduled to hold a lender call at 10:30 a.m. ET on Monday to launch $795 million of credit facilities, according to a market source.

Barclays, Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA, RBC Capital Markets, Bank of America Merrill Lynch and Jefferies LLC are the arrangers on the deal, with Barclays as the administrative agent.

The facilities consist of a $100 million five-year revolver, a $570 million seven-year first-lien term loan and a $125 million eight-year second-lien term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Cerberus Capital Management LP from KPS Capital Partners LP.

Closing is subject to customary conditions.

Electrical Components is a St. Louis-based manufacturer of wire harnesses, control boxes and value-added assembly services for consumer appliance and specialty-industrial applications.

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