Acosta sets July 11 launch for $740 million credit facility

By Sara Rosenberg

New York, June 22 - Acosta Sales and Marketing Co. has scheduled a bank meeting for July 11 to launch its proposed $740 million credit facility, according to a market source.

Goldman Sachs and Wachovia are the lead banks on the deal.

The facility consists of a $60 million revolver and a $680 million term loan, the source said.

Proceeds from the credit facility, along with $385 million of mezzanine debt led by Goldman, will be used to help fund the leveraged buyout of the company by AEA Investors from Berkshire Partners.

Acosta is a Jacksonville, Fla., full-service sales and marketing agency.

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