Aearo Recaps

Aearo Corp., a portfolio company of Permira, has signed a commitment letter with a syndicate of lenders led by Bank of America, Bear, Stearns & Co. and Deutsche Bank to recapitalize the company. The new financing is comprised of a senior secured first-lien facility and a senior secured second-lien facility which total $735 million. Proceeds will be used to refinance amounts outstanding under the company's existing credit facilities and fund a preferred stock redemption and closing. Aearo is an Indianapolis-based manufacturer of personal protective equipment and energy-absorbing products.