AVI-SPL seeks $174 million facility for dividend recapitalization

By Sara Rosenberg

New York, March 7 - AVI-SPL is in market with a $174 million credit facility that will be used for a dividend recapitalization, according to a market source.

GE Capital Markets is leading the deal that launched on Wednesday.

The facility consists of a $30 million five-year revolver and a $144 million six-year term loan, with both tranches talked at Libor plus 400 basis points with a 1% Libor floor and an original issue discount of 99, the source said.

AVI-SPL is a Tampa, Fla.-based video communications provider.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.