Daily News: September 24, 2012

SunTrust Said to Arrange Financing Sought by Airborne Systems


Bloomberg/BusinessWeek reported, citing a person with knowledge of the transaction, that parachute maker Airborne Systems Group is seeking $155 million of loans to fund a dividend.

The article noted that SunTrust Bank is arranging the financing that was said to encompass a $130 million five-year term loan and a $25 million revolving line of credit.

Proceeds will be used to support a $49 million dividend to Metalmark Capital, Bloomberg/BusinessWeek said according to the person.

To read the Bloomberg/BusinessWeek article, click here.