Marsico expected to launch $1.225 billion credit facility in November

By Sara Rosenberg

New York, Oct. 24 - Marsico Capital Management LLC is anticipated to hold a bank meeting sometime in November to launch its proposed $1.225 billion credit facility, according to a market source.

Goldman Sachs is the lead bank on the deal.

The facility consists of a $25 million revolver and a $1.2 billion term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Thomas F. Marsico, founder and chief executive officer, from Bank of America.

Other buyout financing is coming from $1.35 billion of mezzanine financing that Goldman Sachs bought and syndicated to the market.

Marsico Capital Management is a Denver-based equity oriented asset manager.

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