ValleyCrest sets structure on $345 million facility ahead of launch

By Sara Rosenberg

New York, Sept. 8 - ValleyCrest Companies released details on the structure of its proposed $345 million credit facility in preparation for the deal's Tuesday bank meeting, according to a market source.

The facility will consist of a $60 million six-year revolver, a $235 million seven-year first-lien term loan and a $50 million 71/2-year second-lien term loan, the source said.

Goldman Sachs and UBS are joint bookrunners on the deal, with Goldman the left lead.

Proceeds will be used to help fund the leveraged buyout of ValleyCrest by MSD Capital.

ValleyCrest is a Calabasas, Calif., provider of landscape services.

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