Huish Detergents to launch $975 million credit facility Tuesday

By Sara Rosenberg

New York, April 5 - Huish Detergents Inc. is scheduled to hold a bank meeting on Tuesday to launch its proposed $975 million credit facility, according to a market source.

JPMorgan is the lead bank on the deal.

The facility consists of a $100 million six-year revolver (B1) talked around Libor plus 225 basis points, a $600 million seven-year first-lien term loan (B1) talked around Libor plus 225 bps and a $275 million 71/2-year second-lien term loan (Caa1) talked around Libor plus 450 bps, the source said.

Proceeds will be used to help fund Vestar Capital Partners' acquisition of the company.

Huish is a Salt Lake City-based manufacturer of private label laundry detergent and fabric softeners.

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