Safway Services postpones $645 million credit facility launch

By Sara Rosenberg

New York, Nov. 5 - Safway Services LLC decided to delay the bank meeting for its $645 million credit facility to later this week from Monday due to logistics around last week's storm, according to a market source.

Goldman Sachs & Co., Wells Fargo Securities LLC, Morgan Stanley Senior Funding Inc. and Barclays are the lead banks on the deal.

The facility consists of a $250 million five-year ABL revolver and a $395 million seven-year covenant-light term loan.

Proceeds will be used to refinance existing debt.

Safway Services is a Waukesha, Wis.-based provider of scaffolding and access solutions for commercial construction, industrial and infrastructure applications.

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