Southern Graphics to launch $450 million credit facility on Tuesday

By Sara Rosenberg

New York, Sept. 21 - Southern Graphics Inc. (SGS International Inc.) is set to hold a bank meeting in New York on Tuesday to launch a $450 million credit facility, according to a market source.

Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Bank of America Merrill Lynch and Goldman Sachs & Co. are the lead banks on the deal.

The facility consists of a $75 million five-year revolver and a $375 million seven-year first-lien covenant-light term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Onex Corp. from Court Square Capital Partners for $813 million.

Closing is expected in the fourth quarter, subject to customary regulatory approvals.

Southern Graphics is a Louisville, Ky.-based provider of design-to-print graphics services to the consumer products packaging industry.

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