LabelCorp to launch $275 million credit facility on Friday morning

By Sara Rosenberg

New York, May 4 - LabelCorp (York Label) is set to hold a bank meeting at 10 a.m. ET on Friday to launch a proposed $275 million credit facility, according to sources.

Bank of America Merrill Lynch and Deutsche Bank Securities Inc. are the lead banks on the deal.

The facility consists of a $25 million five-year revolver, a $150 million six-year first-lien term loan B and a $100 million 61/2-year second-lien term loan, sources said.

Proceeds will be used to refinance existing debt.

LabelCorp is an Omaha, Neb.-based provider of labeling technologies to consumer goods, wine & spirits, pharmaceutical and food & beverage companies.

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