Fort Dearborn in market with $235 million credit facility

By Sara Rosenberg

New York, Aug. 30 - Fort Dearborn Co. is seeking a $235 million credit facility, according to a market source.

Bank of Ireland, Madison Capital and GMAC are the leads on the deal.

There was no bank meeting for the deal. It is being marketed to existing lenders and a few new ones.

The facility consists of a $30 million revolver talked at Libor plus 500 basis points, a $73 million term loan A talked at Libor plus 500 bps and a $132 million term loan B talked at Libor plus 550 bps, the source said.

All tranches have a 1.75% Libor floor and are being offered at an original issue discount of 981/2.

Proceeds from the facility, along with $115 million in mezzanine debt, will be used to fund the buyout of the company by KRG Capital from Genstar Capital.

Fort Dearborn is an Elk Grove, Ill.-based supplier of high-impact decorative labels.

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