ConvergEx to launch $175 million credit facility in May 27 week

By Sara Rosenberg

New York, May 24 - ConvergEx Group is expected to hold a bank meeting during the week of May 27 to launch a new $175 million credit facility, according to a market source.

Goldman Sachs & Co. is the lead bank on the deal.

The facility consists of a $25 million revolver and a $150 million term loan B, the source said.

Proceeds will be used to refinance existing debt.

ConvergEx is a New York-based provider of global brokerage and trading related services.

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