Cypress Lines Up Credit For CPI Buy

The Cypress Group's $300 million acquisition of Communication & Power Industries (CPI) from Leonard Green & Partners will be financed with a $130 million credit facility consisting of a $90 million term loan and $40 million revolver.

  • 04 Jan 2004
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The Cypress Group's $300 million acquisition of Communication & Power Industries (CPI) from Leonard Green & Partners will be financed with a $130 million credit facility consisting of a $90 million term loan and $40 million revolver. Price talk on the term loan is at LIBOR plus 31/4%, a banker said. UBS and Bear Sterns are leading the deal and Wachovia Securities will serve as documentation agent. A bank meeting is scheduled for Wednesday. CPI is a provider of vacuum electron devices, satellite communications amplifiers, medial imaging generators and other related equipment.

  • 04 Jan 2004

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4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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