Polypore launches $450 million credit facility led by JPMorgan

By Sara Rosenberg

New York, June 7 - Polypore International Inc. launched on Thursday a $450 million five-year senior secured credit facility (Ba2/BB), according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

The facility consists of a $150 million revolver and a $300 million term loan.

Proceeds will be used to refinance an existing $90 million revolver and about $344.9 million of term loan borrowings and for working capital and general corporate purposes.

Closing is subject to syndication, the company said in a press release.

Polypore is a Charlotte, N.C.-based high technology filtration company specializing in microporous membranes.

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