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Husky increases revolver to $110 million from $85 million
By Sara Rosenberg
New York, Dec. 6 - Husky Injection Molding Systems Ltd. upsized its in market revolving credit facility to $110 million from $85 million due to market demand, according to a market source.
Pricing on the revolver was left unchanged at Libor plus 325 basis points.
The company's now $520 million credit facility, up from $495 million, also includes a $410 million term loan that is priced at Libor plus 325 bps and was sold to investors at an original issue discount of 991/2.
RBC Capital is the lead bank on the deal that will be used to help fund the buyout of the company by Onex Corp. for C$8.235 for each share held by all shareholders other than Robert and Elizabeth Schad and their holding company, and for C$8.10 per share for the shares held by the Schads and their holding company. The total transaction value is about C$960 million.
On Thursday, Husky Injection Molding's shareholders approved the buyout. The transaction is subject to final approval of the Ontario Superior Court of Justice, which is expected to be sought on Monday.
Husky Injection Molding is a Bolton, Ont., supplier of injection molding equipment and services to the plastics industry.
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