Global Eagle to launch $670 million credit facility on Wednesday

By Sara Rosenberg

New York, Dec. 1 – Global Eagle Entertainment Inc. is scheduled to hold a lender call at 11 a.m. ET on Wednesday to launch a $670 million senior secured credit facility, according to sources.

Citigroup Global Markets Inc., Macquarie Capital (USA) Inc. and additional bookrunners are leading the deal.

The facility consists of an $85 million revolver, a $460 million first-lien term loan and a $125 million second-lien term loan, sources said.

Proceeds will be used to refinance a roughly $265 million first-lien term loan, a roughly $92 million second-lien term loan and about $39 million in revolver borrowings at Emerging Markets Communications LLC, and for working capital, capital expenditures, acquisitions, investments and general corporate purposes.

Global Eagle is a Marina Del Rey, Calif.-based provider of satellite-based connectivity and media.

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