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Actuant Electrical LBO financing to include $60 million senior subordinated notes
By Paul A. Harris and Sara Rosenberg
New York, Nov. 6 - Actuant Electrical plans to sell $60 million senior subordinated notes to help fund the leveraged buyout of the company by Sentinel Capital Partners from Actuant Corp, according to a market source.
Other financing for the $258 million cash buyout includes a $150 million credit facility set to launch on Tuesday.
RBC Capital Markets and NXT Capital are the lead banks on credit facility.
Actuant Electrical is a Menomonee Falls, Wis.-based provider of products for the retail do-it-yourself, marine, industrial OEM and wholesale electrical markets.
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