American Traffic to launch $425 million in term loans on Monday

By Sara Rosenberg

New York, May 12 – American Traffic Solutions will hold a bank meeting at 2 p.m. ET on Monday to launch $425 million in term loans, according to a market source.

Bank of America Merrill Lynch, BMO Capital Markets, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Morgan Stanley Senior Funding Inc. are the leads on the deal.

The debt consists of a $325 million seven-year covenant-light first-lien term loan and a $100 million eight-year covenant-light second-lien term loan, the source said.

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

American Traffic Solutions is a Mesa, Ariz.-based provider of road safety cameras and toll and violations management solutions.

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