Consolidated Precision to launch $875 million facilities on Thursday

By Sara Rosenberg

New York, April 10 – Consolidated Precision Products Corp. (WP CPP Holdings LLC) is scheduled to hold a lender presentation at 11 a.m. ET on Thursday to launch $875 million of senior secured credit facilities, according to a market source.

Morgan Stanley Senior Funding Inc., Antares Capital, ING Capital LLC and HSBC Securities (USA) Inc. are the leads on the deal.

The facilities consist of a $125 million revolver, a $625 million first-lien term loan and a $125 million second-lien term loan, the source said.

Proceeds will be used to refinance existing debt.

Consolidated Precision Products is a Cleveland-based manufacturer of engineered components and subassemblies primarily for the commercial aerospace, defense and industrial gas turbine markets.

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