UBS and Dresdner Kleinwort Wasserstein are leading syndication of $363 million of loans to back the buyout of Gleason Corp. by management and the Gleason Foundation. The financing consists of a six-year, $40 million revolver; a six-year, $35 million euro-denominated revolver; a seven-year, $150 million term loan; a seven-year, $50 million euro-denominated term loan and a seven-and-a-half year, $65 million second-lien term loan. Pricing could not be determined. A bank meeting was held in New York June 7 and in London June 9.
Based in Rochester, N.Y., Gleason makes gear production equipment with operations in Europe, Asia and North America. A call to an official at Gleason was not returned by press time.