LSF9 Balta secures €75 million term loan to acquire Bentley Mills

By Wendy Van Sickle

Columbus, Ohio, March 17 – LSF9 Balta Issuer SA entered into an agreement on Thursday for a €75 million senior term loan facility to finance its acquisition of Bentley Mills, Inc., according to a company notice.

The term loan will bear interest at Euribor plus an initial margin of 500 basis points, with the margin subject to change based on the company’s consolidated senior secured net leverage ratio.

It will mature 60 months from the first drawdown.

The loan contains customary affirmative covenants, and it, along with the acquisition, is expected to close by March 22, the company said.

LSF9 Balta is part of Belgium-based Balta Group, a producer of textile floor coverings. Bentley Mills is an Industry, Calif.-based modular carpet tile, broadloom and area rug manufacturer.

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