IMG Worldwide to launch $350 million credit facility on Tuesday

By Sara Rosenberg

New York, May 23 - IMG Worldwide Inc. is set to hold a call on Tuesday to launch a proposed $350 million credit facility, according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

The facility consists of a $50 million 41/2-year revolver and a $300 million five-year term loan B, the source said.

Proceeds will be used to refinance existing debt.

IMG is a New York-based provider of sports and event marketing and management services.

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