BT SECURITIES CORPORATION ANNOUNCES COMPLETION OF BANK FINANCING FOR LIBBEY GLASS INC.
NEW YORK, June 24 /PRNewswire/ -- BT Securities Corporation today announced the completion of its $300 million two-part bank financing for Libbey Glass Inc. BT Securities is lead agent of the financing. The $150 million seven-year term loan is priced at Libor plus 1 percent for the first three years, Libor plus 1-1/8 percent for years four and five and Libor plus 1-1/4 percent for years six and seven. The $150 million five-year revolving credit is priced at Libor plus 7/8 of one percent. Proceeds of the deal will be used to refinance inter-company indebtedness and pay related fees and expenses associated with the completion of Libbey Inc.'s IPO and related transactions. The company announced its initial offering of 15 million common shares at $13 per share June 17, 1993. -0- 6/24/93 /CONTACT: Suzanne Quigley of BT Securities Corporation, 212-454-1615/ (BT)
CO: BT Securities Corporation; Libbey Glass Inc. ST: New York IN: FIN SU:
LD-TM -- NY078 -- 5466 06/24/93 16:50 EDT
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|Date:||Jun 24, 1993|
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