Radnor gets $75 million revolver

By Sara Rosenberg

New York, Jan. 5 - Radnor Holdings Corp. closed on a new $75 million revolving credit facility due June 15, 2009, according to an 8-K filed with the Securities and Exchange Commission Thursday.

National City Business Credit Inc. is the agent on the deal.

Borrowings under the revolver carry an initial interest rate of Libor plus 200 basis points, but pricing can range from Libor plus 175 to 225 bps, based on the company's ability to achieve performance criteria.

The revolver, which closed Dec. 29, contains a 25 bps unused fee.

The new revolver was used to refinance the company's previous revolving credit facility.

Radnor is a Radnor, Pa.-based foam cup and container manufacturer, and manufacturer of expandable polystyrene bead.

© 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.