Wilton Industries sets structure, price talk on $950 million credit facility ahead of Thursday launch

By Sara Rosenberg

New York, July 18 - Wilton Industries came out with structure and price talk on its proposed $950 million senior secured credit facility as the deal is getting ready to launch with a bank meeting in New York on Thursday, according to a market source.

UBS Investment Bank and Deutsche Bank are the lead banks on the deal.

The facility consists of a $65 million six-year revolver talked at Libor plus 300 to 325 basis points, a $585 million seven-year first-lien term loan talked at Libor plus 300 bps to 325 bps, a $225 million eight-year second-lien term loan talked at Libor plus 650 bps and a $75 million holdco mezzanine facility talked at Libor plus 850 bps, the source said.

The first-lien bank debt will include a total leverage maintenance covenant.

Proceeds will be used to help fund GTCR Golder Rauner's acquisition of Wilton Industries, Inc. and Dimensions Holdings, LLC through its portfolio company, EK Success Ltd.

The new combined food, paper and celebration crafting company will operate as Wilton Industries.

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