Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Connolly Inc. > News item |
Connolly sets July 12 launch for $400 million credit facility
By Sara Rosenberg
New York, July 2 - Connolly Inc. will be holding a bank meeting on July 12 to launch a proposed $400 million credit facility, according to market sources.
RBC Capital Markets LLC and SunTrust Robinson Humphrey Inc. are the lead banks on the deal.
The facility consists of a $30 million revolver, a $240 million first-lien term loan and a $130 million second-lien term loan, sources said.
Proceeds will be used to help fund the buyout of the company by Advent International.
Leverage through the first-lien is 3.97 times and through the second-lien is 6.13 times, sources added.
Closing is expected this month.
Connolly is an Atlanta-based provider of technology-enabled recovery audit services.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.