Titan Worldwide seeks $305 million credit facility

By Sara Rosenberg

New York, July 11 - Titan Worldwide is currently in market with a $305 million credit facility, according to a market source.

Credit Suisse and BNP Paribas are the lead banks on the deal, which launched with a bank meeting on Tuesday.

The facility consists of a $55 million revolver, an $80 million letter-of-credit facility, a $120 million term loan and a $50 million synthetic letter-of-credit facility, the source said.

Proceeds will be used to refinance existing debt.

Titan is a New York-based outdoor advertising company.

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