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OSI Restaurant to launch $1.23 billion credit facility on Wednesday
By Sara Rosenberg
New York, Oct. 5 - OSI Restaurant Partners LLC is scheduled to hold a bank meeting at 4:40 p.m. ET in Scottsdale, Ariz., on Wednesday to launch a proposed $1,225,000,000 credit facility, according to a market source.
Deutsche Bank Securities Inc., Bank of America Merrill Lynch, Morgan Stanley Senior Funding Inc., J.P. Morgan Securities LLC and Goldman Sachs & Co. are the bookrunners on the deal.
The facility consists of a $225 million revolver and a $1 billion seven-year term loan B, the source said.
Proceeds will be used to refinance existing debt, including term loans.
OSI Restaurant is a Tampa, Fla.-based casual dining restaurant company.
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