Creative Artists Agency to launch $610 million facility on Thursday

By Sara Rosenberg

New York, Nov. 18 – Creative Artists Agency is scheduled to hold a bank meeting at 10 a.m. ET on Thursday to launch a $610 million credit facility, according to a market source.

Bank of America Merrill Lynch, Credit Suisse Securities (USA) LLC, UBS AG and Nomura are the leads on the deal.

The facility consists of a $100 million five-year revolver and a $510 million seven-year covenant-light term loan B, the source said.

Proceeds will be used to refinance existing debt and fund a dividend.

Creative Artists is a Los Angeles-based entertainment and sports firm. Recently, it was announced that TPG is increasing its investment in the company to a majority position.

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