Lereta readies launch of $280 million credit facilities for Thursday

By Sara Rosenberg

New York, July 6 – Lereta LLC is scheduled to hold a lender call at 1 p.m. ET on Thursday to launch $280 million of credit facilities, according to a market source.

Truist Securities is the lead arranger on the deal.

The facilities consist of a $30 million five-year revolver and a $250 million seven-year term loan B, the source said.

Proceeds will be used to help fund the buyout of the company by Flexpoint Ford and Vestar Capital Partners from equity holders, including Tarsadia Investments LLC.

Closing is expected within 30 days.

Lereta is a Pomona, Calif.-based provider of real estate tax and flood services for mortgage servicers.

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