GSC Partners launches $140 million credit facility

By Sara Rosenberg

New York, Jan. 25 - GSC Partners held a bank meeting on Wednesday afternoon to launch its proposed $140 million senior secured credit facility, according to a market source.

UBS is the lead bank on the deal.

The facility consists of a $20 million five-year revolver talked at Libor plus 300 basis points and $120 million six-year term loan B talked at Libor plus 300 to 325 bps, the source said.

Proceeds will be used to support the company's planned recapitalization and incorporation.

GSC Partners is a New York-based specialty credit-focused investment firm.

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