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Garden Ridge plans new $330 million credit facility for buyout
By Sara Rosenberg
New York, July 21 - Garden Ridge is planning to soon come to market with a new $330 million credit facility, according to a market source.
Proceeds will be used to fund the acquisition of the company by AEA Investors LP.
Bank of America Merrill Lynch and UBS Securities LLC are the lead banks on the deal, with Bank of America the left lead.
The facility consists of an $80 million ABL revolver and a $250 million six-year term loan B, the source said.
Garden Ridge is a Houston-based seller of mattresses, ready-to-assemble furniture, discount apparel and handbags, and books.
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