Compass Diversified Holdings, the parent company of Camelbak and other brands, has arranged new financing to replace its previous revolving credit and term loan. A new five-year revolving credit facility for up to $400 million carries interest based on a margin of between 2.0 and 2.75 percent over the current Libor rate. The newly negotiated seven-year term loan of $325 million bears interest of Libor plus 3.25 percent. About $280 million has already been utilized to refinance existing debts. The two new facilities were contracted with a bank consortium led by Bank of America Merrill Lynch, Sun Trust Robinson Humphrey, TD Securities and U.S. Bank National.
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