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Shoes for Crews to launch $258 million credit facility on Tuesday
By Sara Rosenberg
New York, Oct. 28 – Shoes for Crews is scheduled to hold a bank meeting in New York on Tuesday to launch a $258 million senior credit facility, according to a market source.
Antares Capital, Golub Capital and Macquarie Capital (USA) are the joint lead arrangers on the deal.
The facility consists of a $25 million six-year revolver and a $233 million seven-year covenant-light term loan, the source said.
Proceeds will be used to back the recently completed buyout of the company by CCMP Capital Advisors LLC.
Other funds for the transaction will come from a $100 million second-lien term loan that has been privately placed.
Shoes for Crews is a West Palm Beach, Fla.-based supplier of slip-resistant footwear for the workplace.
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