Sterling Infosystems targets Jan. 5 launch for $180 million facility

By Sara Rosenberg

New York, Dec. 12 - Sterling Infosystems Inc. is looking at holding a bank meeting on Jan. 5 to launch its proposed $180 million credit facility, according to a market source.

GE Capital Markets and RBS Citizens are the lead banks on the deal.

The facility consists of a $20 million revolver and a $160 million term loan.

Proceeds will be used to refinance existing debt and fund an acquisition.

The deal was initially expected to launch on Nov. 30, but was postponed since the company was still negotiating the purchase agreement.

Sterling Infosystems is a New York-based background screening company.

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