Southern Graphic Systems $194.4 million credit facility to launch Nov. 30

By Sara Rosenberg

New York, Nov. 22 - Southern Graphic Systems Inc. is expected to hold a bank meeting on Nov. 30 to launch its proposed $194.4 million senior credit facility, according to a market source.

UBS Investment Bank is the lead bank on the deal.

The facility consists of a $35 million five-year revolver, a $40 million six-year acquisition facility and a $119.4 million six-year term loan, the source said.

Proceeds will be used to help fund the acquisition of Southern Graphic Systems by Citigroup Venture Capital Equity Partners LP from Alcoa Inc. for about $410 million.

The transaction is expected to close by the end of December.

Southern Graphic Systems is a Louisville, Ky., packaging design and imaging business.

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