Remy gets $80 million term loan

By Sara Rosenberg

New York, Dec. 28 - Remy International Inc. closed on a new $80 million term loan facility due June 30, 2008, according to an 8-K filed with the Securities and Exchange Commission.

Wachovia is the administrative agent and documentation agent on the deal, and Credit Suisse First Boston is the term loan agent.

The term loan, which closed Dec. 27, carries an interest rate of Libor plus 600 basis points and is non-callable until April 15, 2006.

Proceeds from the term loan were used to pay down revolving credit facility borrowings.

Remy is an Anderson, Ind.-based manufacturer and distributor of starters and alternators for car makers and light- and heavy-duty truck makers.

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