Access CIG to launch $1.01 billion of credit facilities on Tuesday

By Sara Rosenberg

New York, Feb. 1 – Access CIG LLC is scheduled to hold a bank meeting at 10:30 a.m. ET in New York on Tuesday to launch $1.01 billion of senior secured credit facilities, according to a market source.

Jefferies LLC, Macquarie Capital (USA) Inc. and Nomura are the arrangers on the deal.

The facilities consist of a $60 million five-year revolver, a $575 million seven-year first-lien term loan, a $120 million seven-year delayed-draw first-lien term loan, a $215 million eight-year second-lien term loan and a $40 million eight-year delayed-draw second-lien term loan, the source said.

Included in the first-lien term debt is 101 soft call protection for six months, and the second-lien term debt has hard call protection of 102 in year one and 101 in year two.

Proceeds will be used to refinance existing debt, and the delayed-draw term loans are intended to be used to fund acquisitions currently under letters of intent.

Access CIG is a Livermore, Calif.-based provider of physical and digital records and information management services.

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