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Travel Leaders to launch $425 million credit facility on Thursday
By Sara Rosenberg
New York, Jan. 4 – Travel Leaders Group LLC is scheduled to hold a lenders’ presentation at 2 p.m. ET on Thursday to launch a $425 million senior secured credit facility, according to a market source.
Morgan Stanley Senior Funding Inc. and UBS Securities LLC are the leads on the deal.
The facility consists of a $25 million revolver and a $400 million first-lien term loan, the source said.
Proceeds will be used to refinance existing debt, for general corporate purposes and for certain acquisitions.
Travel Leaders is a Plymouth, Minn.-based travel agency company.
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