Coinmach plans $645 million credit facility

By Sara Rosenberg

New York, Nov. 14 - Coinmach Corp. plans on coming to market with a proposed $645 million credit facility, according to a company news release.

Deutsche Bank Securities Inc. and J.P. Morgan Securities Inc. are joint lead arrangers on the deal.

The facility consists of a $75 million revolver and a $570 million term loan.

Proceeds from the term loan will be used to refinance about $230 million of existing term debt and to retire the company's 9% senior notes due 2010.

Coinmach is a Plainview, N.Y., provider of outsourced laundry equipment services for multifamily housing properties.

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