Affinion Group to launch $1 billion credit facility on Thursday

By Sara Rosenberg

New York, March 24 - Affinion Group Inc. is scheduled to hold a bank meeting on Thursday to launch its proposed $1 billion credit facility, according to a market source.

Bank of America and Credit Suisse are the lead banks on the deal, with Bank of America the left lead.

The facility consists of a $125 million five-year revolver and an $875 million 61/2-year term loan B, the source said, adding that price talk will come out at the meeting.

Proceeds will be used to refinance existing debt and for general corporate purposes, including acquisitions.

Affinion is a Norwalk, Conn.-based provider of marketing services and loyalty programs.

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