Audio Visual Services to launch $315 million credit facility Tuesday

By Sara Rosenberg

New York, Feb. 12 - Audio Visual Services Group, Inc. is scheduled to hold a bank meeting on Tuesday to launch its proposed $315 million credit facility, according to a market source.

Lehman and Wachovia are the joint lead arrangers on the deal, with Lehman the left lead.

The facility consists of a $30 million revolver (Ba3), a $225 million first-lien term loan B (Ba3) and a $60 million second-lien term loan (B3), the source said.

Proceeds will be used to help fund the leveraged buyout of the company by Kelso & Co.

Audio Visual is a Long Beach, Calif., provider of audiovisual and event technology support to hotels, event production companies, trade associations, convention centers and corporations.

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