RC2 gets $145 million credit facility

By Sara Rosenberg

New York, Nov. 4 - RC2 Corp. closed on a new $145 million three-year senior credit facility, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

Bank of Montreal acted as the lead bank and administrative agent on the deal that was completed on Nov. 3.

The facility consists of a $75 million term loan and a $70 million revolver, with pricing able to range from Libor plus 225 basis points to 325 bps. Initial pricing on the tranches is Libor plus 300 bps.

Proceeds were used to refinance the company's existing credit facility.

At close, the term loan was drawn in full and $55 million was outstanding under the revolver.

RC2 is an Oak Brook, Ill.-based designer, producer and marketer of toys, collectibles, and infant and toddler products.

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