USIC to launch $720 million in revolver, first-lien term debt Friday

By Sara Rosenberg

New York, Nov. 16 – USIC Holdings Inc. is scheduled to hold a lender call at 11 a.m. ET on Friday to launch an $85 million revolver and a $635 million first-lien term loan, according to a market source.

The company’s proposed $885 million credit facility also includes a $165 million privately placed second-lien term loan, the source said.

Goldman Sachs Bank USA, Morgan Stanley Senior Funding Inc. and Antares Capital are the bookrunners on the deal.

Proceeds will be used to fund the recapitalization of the company’s balance sheet.

USIC is an Indianapolis-based provider of underground utility locating services.

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