Hudson Group launches $295 million first-lien facility at Libor plus 400 bps, 99 OID

By Sara Rosenberg

New York, Jan. 24 - Hudson Group launched its $295 million first-lien credit facility on Thursday afternoon with price talk of 400 basis points at an original issue discount of 99, according to a market source.

Tranching on the deal is comprised of a $60 million revolver and a $235 million first-lien term loan.

CIT Group is the lead bank on the first-lien debt.

Proceeds will be used to help fund Advent International's buyout of the company.

Other buyout financing is coming from a $125 million second-lien term loan that is being led by hedge fund Magnetar and is already spoken for.

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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