Southern Wine & Spirits to launch $2 billion credit facility on May 7

By Sara Rosenberg

New York, April 20 - Southern Wine & Spirits of America Inc. is scheduled to hold a bank meeting on May 7 to launch its proposed $2 billion five-year credit facility, according to a market source.

Bank of America is the left lead bank on the deal.

The facility consists of a $1 billion revolver and a $1 billion term loan, the source said.

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

Southern Wine is a Miami-based wine and spirits distributor.

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