eCommerce Industries seeks $142 million credit facility led by Golub

By Sara Rosenberg

New York, Sept. 15 - eCommerce Industries Inc. is in market with a $142 million credit facility, according to a source.

Golub Capital is the bookrunner and administrative agent on the deal that launched with a bank meeting last week.

The facility consists of a $3 million revolver and a $139 million term loan, with pricing on both tranches discussed around 7½%, including coupon and Libor floor, the source said. The division between the spread and floor is still fluid.

In addition, the revolver and term loan are being considered with an original issue discount of 981/2, the source remarked.

Proceeds will be used to refinance existing debt and fund a small acquisition.

Commitments are due on Sept. 22.

Senior and total leverage is 4.0 times.

eCommerce is a Fort Worth, Texas-based developer of industry-specific business operations software and integrated supply chain automation.

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