HHI Group Secures $300 Million Recap, Will Fund $150 Million Dividend

HHI Group Holdings, a maker of forged parts for power train and wheel-end applications, has raised $300 million in new financing for a recapitalization. The deal includes a $100 million revolving credit facility and a $200 million term loan. Proceeds will be used to refinance existing debt and to fund a $150 million distribution to shareholders like KPS Capital Partners and MC Capital.

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