Southwest Sports seeks $125 million in incremental bank debt

By Sara Rosenberg

New York, Dec. 6 - Southwest Sports Group Inc. is currently in market with $125 million of additional term debt, according to a market source.

Barclays and JPMorgan are the lead banks on the deal.

The debt is comprised of a $25 million add-on to the company's first-lien term loan and a $100 million second-lien term loan, the source said.

Proceeds from the deal, which was launched last week, will be used for a recapitalization.

Southwest Sports is a Frisco, Texas-based holding company that houses interests in the Texas Rangers professional baseball team and the Dallas Stars pro hockey team, and owns various real estate properties in Dallas.

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