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IWCO Direct to launch $410 million credit facility on Tuesday
By Sara Rosenberg
New York, July 13 - IWCO Direct is scheduled to hold a bank meeting with a 10 a.m. ET start on Tuesday at the Intercontinental in New York to launch its proposed $410 million credit facility, according to a market source.
Deutsche Bank is the lead arranger on the deal.
The facility consists of a $25 million revolver, a $230 million term loan B, a $20 million delayed-draw term loan and a $135 million second-lien term loan, the source said.
Proceeds will be used to help fund Avista Capital Partners' acquisition of the company from Court Square Capital Partners.
IWCO is a Chanhassen, Minn., provider of integrated direct mail production services.
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