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Advanstar sets Thursday launch for its $495 million credit facility
By Sara Rosenberg
New York, May 14 - Advanstar Communications Inc. is set to hold a bank meeting on Thursday to launch a $495 million credit facility, according to market sources.
Goldman Sachs Bank USA and Credit Suisse Securities LLC are the lead banks on the deal.
The facility consists of a $20 million revolver (B1/B+), a $300 million first-lien term loan (B1/B+) and a $175 million second-lien term loan (Caa2/CCC+), sources said.
Proceeds will be used to refinance existing debt.
Advanstar is a Santa Monica, Calif.-based marketing, media and events company.
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