Adams Outdoor to launch $295 million credit facility Thursday

By Sara Rosenberg

New York, March 16 - Adams Outdoor is scheduled to hold a bank meeting on Thursday for a proposed $295 million credit facility, according to a market source. Wachovia is the lead bank on the deal.

The facility consists of a $185 million first lien term loan talked at Libor plus 275 basis points, a $60 million second lien term loan talked at Libor plus 400 basis points and a $50 million revolver talked at Libor plus 275 basis points, according to the source.

Proceeds will be used to refinance existing debt.

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