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Landmark Aviation to launch $360 million credit facility on Friday
By Sara Rosenberg
New York, Jan. 8 - Landmark Aviation is scheduled to hold a bank meeting on Friday to launch its proposed $360 million credit facility, according to a market source.
Barclays Capital is the lead bank on the deal.
The facility consists of a $50 million revolver, a $190 million first-lien term loan talked at Libor plus 375 basis points and a $120 million second-lien term loan talked at Libor plus 700 bps, the source said.
Proceeds will be used to help fund GTCR Golder Rauner LLC's and Encore FBO, LLC's acquisition of the fixed-base operator business, including the related charter, aircraft sales and maintenance parts assets of Landmark Aviation from Dubai Aerospace Enterprise.
Landmark is a Tempe, Ariz., provider of aftermarket services to the business aviation industry.
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