PEORIA, Ill.-Rohn Industries Inc., a provider of infrastructure equipment, has put in place a new secured credit facility, which the company said will help finance its recently announced self tender offer and stock purchase transactions.
The new facility initially offers up to $20 million of aggregate revolving borrowing capacity and, upon the closing of Rohn’s tender offer, provides for a $30 million term loan and increases the aggregate revolving borrowing capacity to up to $45 million.
Also, the U.S. Bankruptcy Court for the northern district of Illinois has approved the stock purchase agreement between Rohn and the UNR Asbestos-Disease Claims Trust, which now owns 29 million of Rohn’s outstanding shares. Rohn will purchase from the trust the same portion of the Trust’s shares as is purchased from all other stockholders in the offer, at the same price paid in the offer.
