Shutterfly to launch $500 million credit facilities on Tuesday morning

By Sara Rosenberg

New York, July 31 – Shutterfly Inc. is scheduled to hold a lenders’ presentation at 10:30 a.m. ET on Tuesday to launch $500 million of senior secured credit facilities, according to a market source.

Morgan Stanley Senior Funding Inc., SunTrust Robinson Humphrey Inc., BMO Capital Markets Corp., MUFG, U.S. Bank and Wells Fargo Securities LLC are the leads on the deal.

The facilities consist of a $200 million revolver and a $300 million delayed-draw term loan B, the source said.

Proceeds will be used for general corporate purposes including to refinance existing debt.

Shutterfly is a Redwood City, Calif.-based online retailer and manufacturer of high-quality personalized products and services.

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