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Milacron to raise funds for refinancing
19 April 2011: Milacron, Plastics processing equipment supplier, is seeking to $190 million (approx Rs 855 crore) of loans to refinance debt.
Batavia Township, Ohio based Milacron plans to raise a $140 million (approx Rs 630 crore) term loan due 2017 and a $50 million (approx 225 crore) revolving credit line maturing in 2016. Milacron, owned by the Avenue Capital Group, emerged from Chapter 11 in late 2009, after being bought by Avenue Capital and DDJ Capital Management LLC. Milacron said it shed about 80 per cent of its debt while in Chapter 11 protection.
Source: Canplastics