Herff Jones to launch $700 million credit facility on Wednesday

By Sara Rosenberg

New York, June 3 - Herff Jones is set to hold a bank meeting on Wednesday to launch a $700 million credit facility, according to a market source.

Jefferies Finance LLC is leading the deal.

The facility consists of a $150 million revolver and a $550 million term loan B, the source said.

Proceeds will be used to fund the acquisition of BSN Sports and refinance existing debt.

Herff Jones is an Indianapolis-based manufacturer and publisher of educational products, recognition awards and graduation-related items. BSN Sports is a Dallas-based distributor of team sports apparel and equipment.

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