MailSouth releases structure, talk on $130 million credit facility

By Sara Rosenberg

New York, Nov. 8 - MailSouth disclosed that its proposed credit facility is sized at $130 million, comprised of a $20 million revolver and a $110 million term loan, according to a market source.

Price talk on the revolver and the term loan is Libor plus 500 basis points with a 1.75% floor and an original issue discount of 981/2, the source said.

GE Capital is the lead bank on the deal that is set to launch with a bank meeting on Wednesday.

Proceeds will be used to help fund the buyout of the company by Court Square Capital Partners from New Mountain Capital.

Closing leverage is 3.5 times senior and 5.0 times total.

MailSouth is a Helena, Ala.-based marketer of shared-pack coupons.

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