Goldman Sachs and GMAC Commercial Finance launched syndication last Wednesday of a $150 million facility for mining equipment manufacturer Bucyrus International, a portfolio company of American Industrial Partners (AIP). Proceeds from the new facility and an initial public offering will retire outstanding notes and bank debt and be used for general corporate purposes.
The credit comprises a $100 million term loan and $50 million revolver. Goldman is the sole book-running manager on the stock offering. GMAC is the lead on Bucyrus' existing $73 million credit facility. Craig Mackus, Bucyrus' cfo, and Kim Marvin, a managing director and partner with AIP did not return calls. Goldman bankers did not return calls and GMAC bankers could not be reached.