American Greetings $650 million facility to launch Thursday

By Sara Rosenberg

New York, March 14 - American Greetings Corp. is scheduled to hold a bank meeting on Thursday to launch its proposed $650 million credit facility, according to a market source.

UBS is the lead bank on the deal.

The facility consists of a $300 million revolver and a $350 million term loan, with price talk unavailable at this time, the source said.

Proceeds will be used to refinance existing debt.

American Greetings is a Cleveland-based greeting card company.

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