Kansas City Southern to launch $500 million facility on Thursday

By Sara Rosenberg

New York, June 15 - Kansas City Southern is scheduled to hold a bank meeting on Thursday to launch a proposed $500 million five-year credit facility, according to a market source.

Bank of America Merrill Lynch and Scotia Capital (USA) Inc. are the lead banks on the deal.

The facility consists of a $200 million revolver and a $300 million term loan A, both talked at Libor plus 175 basis points, the source said.

Proceeds will be used to refinance existing debt.

Kansas City Southern is a Kansas City, Mo.-based transportation holding company that has railroad investments in the U.S., Mexico and Panama.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.