KBUS Holdings obtains $140 million loan

By Sara Rosenberg

New York, Sept. 23 - KBUS Holdings LLC obtained a $140 million senior secured credit facility. Fleet Securities syndicated the asset-based deal and provided letters of credit and cash management products and services to the company.

The facility is being used to help fund the acquisition of Coach USA's West and South Central operations by KBUS, a newly-formed company created by an affiliate of Kohlberg & Co. Coach USA is a provider of motorcoach services.

"Fleet Capital completed a complex transaction during a challenging time for the motorcoach industry," said Kohlberg & Co. principal Gordon Woodward, in a news release. "It delivered a deal structure that gives the new company flexibility and liquidity to leverage the leadership position held by Coach USA in these regions."

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