1-800 Contacts to launch $1.38 billion credit facilities on Thursday

By Sara Rosenberg

New York, Oct. 7 – 1-800 Contacts Inc. (CNT Holdings I Corp.) is scheduled to hold a lender call at 10 a.m. ET on Thursday to launch $1.38 billion of senior secured credit facilities, according to a market source.

The facilities consist of a $110 million revolver, a $930 million first-lien term loan B and a $340 million second-lien term loan, the source said.

Morgan Stanley Senior Funding Inc., KKR Capital Markets and Jefferies LLC are the leads on the deal, with Morgan Stanley the left lead on the first-lien loan and KKR the left lead on the second-lien loan.

Proceeds will be used to help fund the buyout of the company by KKR from AEA Investors.

1-800 Contacts is a Draper, Utah-based seller of contact lenses.

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