Unifrax Said to Seek $450 Million of Loans to Refinance Debt

Unifrax Corp., a producer of high- temperature insulation products, is seeking $450 million of loans to refinance debt, according to a person with knowledge of the transaction.

Goldman Sachs Group Inc. is arranging the deal, which will include a $400 million term loan B and a $50 million revolving line of credit, said the person, who asked not to be identified because the information is private.

The bank will host a lender meeting on Jan. 16 at 1 p.m. in New York, the person said. The term loan will be covenant-lite, meaning that it won’t carry typical lender protection such as financial-maintenance requirements, according to the person.

American Securities LLC purchased the Niagara Falls, New York-based company in 2011, according to data compiled by Bloomberg.

Caroline Harris, a spokeswoman for American Securities, didn’t immediately respond to an e-mail seeking comment.

To contact the reporter on this story: Michael Amato in New York at Mamato3@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net

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