FullBeauty Brands to launch $1.29 billion credit facility on Tuesday

By Sara Rosenberg

New York, Sept. 21 – FullBeauty Brands is scheduled to hold a bank meeting on Tuesday to launch a $1.29 billion credit facility, according to market sources.

The facility consists of a $125 million ABL revolver, an $820 million seven-year first-lien term loan and a $345 million eight-year second-lien term loan, sources said.

J.P. Morgan Securities LLC, Goldman Sachs Bank USA, Jefferies Finance LLC and Deutsche Bank Securities Inc. are the lead banks on the debt, with JPMorgan left lead on the first-lien and Goldman left lead on the second-lien.

Proceeds will be used to help fund the buyout of the company by Apax Partners LLP from Charlesbank Capital Partners and Webster Capital.

Closing is expected during the fourth quarter, subject to customary conditions.

Following the closing of the transaction, Charlesbank will maintain a substantial ownership interest in the company.

FullBeauty Brands is a New York-based catalog retailer and online marketplace for plus-size consumers.

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