ABN Amro launched a new $385 million highly leveraged loan at a bank meeting in New York late last week.

The loan to Granaria Holdings, a Dutch private investment company based in The Hague, will finance the purchase of Cincinnati-based Eagle-Picher Industries Inc., a manufacturing company with operations in the United States, Canada, Europe, and Asia.

ABN Amro is the sole underwriter and arranger of the credit, with PNC Bank Corp. acting as administrative agent.

The loan is in four tranches: a $160 million six-year revolving credit, a $100 million six-year term loan A, a $50 million seven-and-a-half-year term loan B, and an eight-and-a-half-year term loan C.

Pricing on the loan starts at 225 basis points over the London interbank offered rate plus a 50-basis-point commitment fee and climbs to 287 basis points over Libor for the term loan C tranch.

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