MD Beauty launches $408 million credit facility

By Sara Rosenberg

New York, May 18 - MD Beauty Inc. held a bank meeting on Thursday to launch its proposed $408 million credit facility, according to a market source.

BNP Paribas is the lead bank on the deal.

The facility consists of a $25 million revolver (B1/B-) talked at Libor plus 275 basis points, a $237 million first-lien term loan (B1/B-) talked at Libor plus 275 bps and a $146 million second-lien term loan (B3/CCC) talked at Libor plus 700 bps, the source said.

Proceeds will be used to refinance the company's existing credit facility and fund a dividend payment.

MD Beauty is a San Francisco-based personal care company.

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