Fotolia readies New York launch of $300 million in term loans

By Sara Rosenberg

New York, June 11 - Fotolia LLC held a bank meeting in London on Tuesday and will hold one in New York on Wednesday to launch $300 million in term loans, according to a market source.

Goldman Sachs Bank USA and KKR Capital Markets are leading the deal.

The debt includes a $200 million seven-year first-lien term loan and a $100 million 71/2-year euro-equivalent second-lien term loan, the source said.

Proceeds will be used to refinance existing debt, fund a dividend and put cash on the balance sheet.

Fotolia is a New York-based provider of royalty-free images, vectors, illustrations and video footage clips.

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