| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers H > Headlines for Horizon Global Corp. > News item |
Horizon Global to launch $315 million credit facility on Tuesday
By Sara Rosenberg
New York, May 4 – Horizon Global Corp. is set to hold a bank meeting on Tuesday to launch a $315 million credit facility, according to sources.
J.P. Morgan Securities LLC, BMO Capital Markets and Wells Fargo Securities LLC are the leads on the deal.
The facility consists of a $100 million asset-based revolver and a $215 million seven-year term loan B (B2/B), sources said.
Proceeds will be used to fund a cash distribution to TriMas Corp. in connection with Horizon’s spinoff from TriMas.
Horizon Global is a Bloomfield Hills, Mich.-based manufacturer and distributor of towing, trailer and cargo management products for the automotive market.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.