Acosta $280 million credit facility to launch Tuesday

By Sara Rosenberg

New York, July 12 - Acosta Sales Co. Inc. will hold a bank meeting Tuesday for its proposed $280 million credit facility, according to a market source.

GE Capital and Wachovia are the lead banks on the deal, with GE listed on the left.

The facility consists of an $80 million five-year revolving credit facility with an interest rate of Libor plus 300 basis points and a $200 million six-year term loan B with an interest rate of Libor plus 300 basis points, the source said.

Proceeds will be used to pay a $200 million dividend and refinance the existing revolver.

Acosta is a Jacksonville, Fla., sales and marketing agency to the consumer packaged goods industry.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.