DMG readies launch of $405 million credit facilities for Wednesday

By Sara Rosenberg

New York, May 4 – Divisions Maintenance Group (DMG) is scheduled to hold a lender call at 10 a.m. ET on Wednesday to launch $405 million of senior secured credit facilities, according to a market source.

Morgan Stanley Senior Funding Inc. is the lead bank on the deal.

The facilities consist of a $40 million revolver and a $365 million first-lien term loan B, the source said.

Proceeds will be used to refinance the company’s existing debt and fund a shareholder distribution.

Divisions Maintenance is a Newport, Ky.-based facilities maintenance company.

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