York Label to launch roughly $190 million credit facility on July 10

By Sara Rosenberg

New York, July 2 - York Label is scheduled to hold a bank meeting on July 10 to launch its proposed about $190 million credit facility, according to a market source.

Bank of America is the lead bank on the deal.

The facility consists of a $23 million five-year revolver, a $135 million six-year term loan, a C$2 million five-year revolver and a C$30 million six-year term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Diamond Castle.

Expected corporate credit ratings are B2/B.

York Label is an Omaha, Neb.-based provider of labeling technologies to major global consumer goods, wine & spirits, pharmaceutical and food & beverage companies.

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