Hudson Group sets Thursday launch for $295 million first-lien credit facility

By Sara Rosenberg

New York, Jan. 18 - Hudson Group firmed up timing on its proposed $295 million first-lien credit facility with the scheduling of a bank meeting for Thursday, according to a market source.

Previously, it was said that the deal was expected to come late during the week of Jan. 21, but a specific date had been unavailable.

CIT Group is the lead bank on the deal.

The facility consists of a $60 million revolver and a $235 million first-lien term loan, the source said, adding that price talk is still to be determined.

The company is also getting a $125 million second-lien term loan that is being led by hedge fund Magnetar and is already spoken for.

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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