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Omnitracs to launch $795 million credit facilities on Wednesday
By Sara Rosenberg
New York, March 6 – Omnitracs LLC is set to hold a lender call at 11 a.m. ET on Wednesday to launch $795 million of credit facilities, according to a market source.
Barclays, Credit Suisse Securities (USA) LLC, Macquarie Capital (USA) Inc., ING and Vista are the bookrunners on the deal.
The facilities consist of a $50 million five-year revolver and a $745 million seven-year first-lien term loan B, the source said.
Proceeds will be used to repay the company’s existing first-and second-lien term loans.
Omnitracs is a Dallas-based provider of mission-critical fleet and mobile enterprise software.
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