MediaOcean to launch $335 million credit facility on Tuesday

By Sara Rosenberg

New York, July 9 – MediaOcean LLC is scheduled to hold a bank meeting on Tuesday to launch a $335 million credit facility, according to a market source.

Macquarie Capital (USA) Inc. is the arranger on the deal.

The facility consists of a $20 million five-year revolver (B2), a $225 million seven-year first-lien covenant-light term loan (B2) and a $90 million eight-year second-lien term loan (Caa2) that was pre-placed, the source said.

Proceeds will be used to help fund the buyout of the company by Vista Equity Partners.

Closing is expected in the third quarter.

MediaOcean is a New York-based software company for the advertising sector.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.