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eBay Enterprise to launch $640 million in term loans on Thursday
By Sara Rosenberg
New York, Oct. 13 – eBay Enterprise Omni-Channel Logistics and Solutions Inc. is scheduled to hold a bank meeting at 10:30 a.m. ET in New York on Thursday to launch $640 million in senior secured term loans, according to a market source.
Morgan Stanley Senior Funding Inc. and Credit Suisse Securities (USA) LLC are the lead banks on the debt.
The facility consists of a $540 million first-lien term loan and a $100 million second-lien term loan, the source said.
Proceeds will be used to help fund the buyout of the company by Permira, Sterling Partners, Longview Asset Management, the Innotrac Corp., a Sterling Partners portfolio company, and companies owned by the Permira funds from eBay Inc. for $925 million.
Closing is subject to regulatory approvals and customary conditions.
eBay Enterprise is a King of Prussia, Pa.-based provider of retail-optimized commerce solutions, including the Magento platform, order management, fulfillment, customer care, and marketing solutions.
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