Progressive Moulded Products bank debt via JPMorgan, CIBC, CSFB

By Sara Rosenberg

New York, July 7 - Progressive Moulded Products Ltd. will be getting a new credit facility to help fund Thomas H. Lee Partners' acquisition of the company from an ownership group led by Oak Hill Capital Partners, according to a company spokesperson.

JPMorgan, CIBC and Credit Suisse First Boston will lead the bank financing, although not necessarily in that order, the spokesman said.

Furthermore, Goldman Sachs will provide mezzanine financing for the leveraged buyout as well, the spokesman added.

No further details on the financing were revealed.

Credit Suisse First Boston LLC was the buyside mergers and acquisitions adviser to Thomas H. Lee Partners in the transaction. J.P. Morgan Securities Inc. and CIBC World Markets were the sellside M&A advisers to Progressive and Oak Hill.

Progressive is a supplier of plastic automotive interior subsystems.

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