Cast & Crew to launch $430 million credit facility on Tuesday

By Sara Rosenberg

New York, July 15 – Cast & Crew Entertainment Services set a bank meeting for 10 a.m. ET on Tuesday to launch a $430 million credit facility, according to a market source.

RBC Capital Markets, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Societe Generale are leading the debt.

The facility consists of a $65 million five-year revolver, a $270 million seven-year first-lien term loan and a $95 million eight-year second-lien term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Silver Lake from ZM Capital.

Closing is subject to customary conditions.

First-lien leverage is 4.4 times and total leverage is around 6 times, the source added.

Cast & Crew is a Burbank, Calif.-based provider of technology-enabled payroll, production accounting and related value-added services to the entertainment industry.

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