RGIS new credit facility expected as second-quarter business

By Sara Rosenberg

New York, March 23 - RGIS Holdings LLC's proposed new credit facility is expected to be second-quarter business, according to a market source.

Goldman Sachs is the lead bank on the deal.

Proceeds from the facility, along with mezzanine financing, will be used to help fund The Blackstone Group's acquisition of a controlling interest in the company. The current RGIS ownership group will retain a significant stake in the company post-close.

The transaction is subject to satisfaction of customary conditions and is expected to close in the first half of 2007.

RGIS is an Auburn Hills, Mich., inventory and retail services company.

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