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Vertis Holding ups second-lien mezzanine notes to $402 million
By Lisa Kerner
Charlotte, N.C., Aug. 13 - Vertis Holding Inc. increased its second-lien mezzanine notes to $402 million after reducing its five-year first-out term loan and removing the $150 million second-out term loan from the capital structure, according to a market source.
The Baltimore-based marketing communications company cut the size of its five-year first-out term loan to $365 million from $425 million.
Vertis' credit facility is now $555 million, down from $765 million, and includes a $190 million senior secured asset-based revolver.
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