Georgia Gulf Acquisition Deal Hits Mart

Four lenders teamed up to launch last Wednesday syndication of a $1.05 billion credit facility for Georgia Gulf to back the C$1.7 billion ($1.6 billion) acquisition of Royal Group Technologies.

  • 04 Aug 2006
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Four lenders teamed up to launch last Wednesday syndication of a $1.05 billion credit facility for Georgia Gulf to back the C$1.7 billion ($1.6 billion) acquisition of Royal Group Technologies. The deal consists of a five-year, $300 million revolver and a seven-year, $750 million term loan. Pricing could not be determined. Bank of America, JPMorgan, Lehman Brothers and Merrill Lynch are leading the deal.

One investor looking at the deal and anticipated participating said that it was "a good, down the middle credit" that will get done.

Atlanta-based Georgia Gulf is a manufacturer and marketer of chlorovinyls and aromatics. The products are used in a wide variety of end-use applications, including construction and renovation, engineered plastics, pulp and paper products, chemical intermediates, pharmaceuticals and consumer products. Royal Group is based in Toronto and manufactures commodity chemicals, vinyl resins and vinyl compounds, which are used to manufacture vinyl building and construction products. Calls to Jim Matthews, cfo, were not returned. A spokeswoman declined comment.

  • 04 Aug 2006

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