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Potpourri launches $135 million credit facility at Libor plus 550 bps
By Sara Rosenberg
New York, Sept. 13 - Potpourri Group Inc. launched on Thursday its $135 million credit facility with price talk of Libor plus 550 basis points with a 1.25% Libor floor and an original issue discount of 981/2, according to a market source.
The facility consists of a $25 million revolver and a $110 million term loan B.
Commitments are due on Sept. 27, the source added.
GE Capital Markets and NXT Capital are leading the deal.
Proceeds will be used to refinance existing debt and to fund a dividend.
Potpourri is a N. Billerica, Mass.-based multi-title catalog company offering products in home decor, casual apparel, gifts and unique accessories.
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