Filtration Group to launch $875 million credit facility on Monday

By Sara Rosenberg

New York, Oct. 30 - Filtration Group Corp. is set to hold a bank meeting on Monday to launch an $875 million credit facility, according to a market source.

Goldman Sachs Bank USA and BMO Capital Markets Corp. are the lead banks on the deal.

The facility consists of a $75 million five-year revolver, a $565 million seven-year covenant-light first-lien term loan B and a $235 million eight-year covenant-light second-lien term loan, the source said.

Proceeds will be used to help fund the acquisition of Porex Corp. from Aurora Capital Group.

Filtration Group is a Chicago-based developer, designer and manufacturer of liquid, air and fluid filtration solutions. Porex is a Fairburn, Ga.-based developer, manufacturer and distributor of porous polymer products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.