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Hudson Group credit facility sized at roughly $425 million; launch expected late January
By Sara Rosenberg
New York, Jan. 3 - Hudson Group's proposed buyout financing credit facility is expected to be sized at about $425 million and timing on the deal has been narrowed down to the late January timeframe as opposed to just being labeled as January business, according to a market source.
CIT Group is the lead bank on the bank debt.
The deal consists of a roughly $300 first-lien credit facility that will include a revolver and a term loan, and a roughly $125 million second-lien term loan, the source said.
Proceeds will be used to help fund Advent International's buyout of the company.
Hudson Group is an East Rutherford, N.J.-based travel retail specialist that operates more than 550 newsstands, bookstores, cafes and specialty retail shops in 69 airports and transportation terminals.
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