Vantage Elevator to launch $820 million credit facilities on Tuesday

By Sara Rosenberg

New York, Oct. 28 – Vantage Elevator Solutions is scheduled to hold a lender call at 9:30 a.m. ET on Tuesday to launch $820 million of credit facilities, according to a market source.

RBC Capital Markets, Jefferies LLC and Antares Capital are the joint lead arrangers on the deal.

The facilities consist of an $85 million five-year revolver, a $525 million seven-year first-lien term loan and a $210 million eight-year second-lien term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Ontario Teachers’ Pension Plan Board. Vantage’s current owner, Golden Gate Capital, will retain a significant minority ownership stake in the company.

Closing is expected before the end of the year.

Vantage is a Bronx, N.Y.-based elevator component manufacturer.

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