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Coinmach to launch $1.69 billion credit facilities on Wednesday
By Sara Rosenberg
New York, June 6 – Coinmach Services (Spin HoldCo Inc.) is set to hold a lender call at 10 a.m. ET on Wednesday to launch $1,686,000,000 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 $120 million revolver and a $1,566,000,000 first-lien term loan B, the source said.
Proceeds will be used to amend and extend the company’s existing revolver and term loan B, and upsize the term loan B by $76,404,978 to fund a tuck-in acquisition and pay related fees and expenses.
Coinmach is a Plainview, N.Y.-based laundry equipment service provider.
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