Systems Maintenance to launch $415 million credit facility on Tuesday

By Sara Rosenberg

New York, Oct. 5 – Systems Maintenance Services set a bank meeting for Tuesday afternoon to launch its previously announced $415 million credit facility, according to a market source.

Antares Capital and Citizens Bank are the joint lead arrangers on the deal.

The facility consists of a $40 million six-year revolver (B2/B+), a $260 million seven-year first-lien term loan (B2/B+) and a $115 million eight-year second-lien term loan (CCC+).

Proceeds will be used to help fund the buyout of the company by Partners Group from Thomas H. Lee Partners LP and Summit Partners.

Closing is subject to regulatory approval.

Systems Maintenance Services is a Charlotte, N.C.-based provider of IT infrastructure services.

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