Bell Sports $160 million credit facility to launch Sept. 9

By Sara Rosenberg

New York, Aug. 26 - Bell Sports Corp. is scheduled to hold a bank meeting on Sept. 9 for its proposed $160 million credit facility, according to a market source.

Goldman Sachs and Wachovia are joint leads on the deal, with Goldman listed on the left. UBS will be involved in the transaction as well.

The facility consists of a $50 million revolving credit facility with price talk of Libor plus 275 basis points and a $110 million term loan with price talk of Libor plus 300 basis points, the source said.

Proceeds, combined with proceeds from a proposed $150 million bond deal, will be used to help fund Fenway Partners Inc.'s acquisition of Bell Sports.

Fenway will purchase Bell Sports from an investor group that includes GarMark Partners LP, Wachovia Investors Inc. and Chartwell Investors, for about $240 million. The transaction will merge Bell Sports and Riddell Sports Group, which Fenway purchased in June 2003.

When the acquisition was announced earlier this month, Bell was expected to come to market with a new credit facility after Labor Day via Goldman. However, no specific details on the financing and the bank group were available until now.

Bell Sports is an Irving, Texas, marketer of helmets and accessories for bicycling and other action sports. Riddell is a Chicago provider of football helmets and other branded sporting goods, equipment reconditioning services and sports collectibles.

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