Tredegar to launch $250 million credit facility Monday

By Sara Rosenberg

New York, Sept. 2 - Tredegar Corp. is scheduled to hold a bank meeting on Monday for a new $250 million credit facility. Wachovia is the lead bank on the deal.

The facility consists of a $175 million five-year revolver and a $75 million five-year term loan A, both priced with an interest rate of Libor plus 125 basis points.

Proceeds will be used to refinance existing debt.

Tredegar is a Richmond, Va. manufacturer of plastic films and aluminum extrusions.

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