Remy International to launch $425 million credit facility on Monday

By Sara Rosenberg

New York, Dec. 2 - Remy International Inc. is scheduled to hold a bank meeting on Monday to launch its proposed $425 million credit facility, according to a market source.

Bank of America, UBS, Wells Fargo and Barclays are the lead banks on the deal.

The facility consists of a $330 million term loan B and a $95 million ABL revolver, the source said.

Proceeds will be used to refinance existing debt.

Remy is a Pendleton, Ind.-based provider of alternators, starters and hybrid motors for the heavy duty and light duty original equipment markets, and remanufactured alternators and starters to the aftermarket.

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