Grosvenor $330 million credit facility to launch Thursday

By Sara Rosenberg

New York, Oct. 31 - Grosvenor is scheduled to hold a bank meeting on Thursday at 1 p.m. ET at the W Hotel in New York to launch its proposed $330 million credit facility, according to a market source.

Goldman Sachs is the lead bank on the deal.

The facility consists of a $315 million term loan and a $15 million revolver, the source said.

Proceeds will be used to affect a recapitalization and for general corporate purposes.

Grosvenor is a high quality asset manager.

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