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SnapAV reveals structure of credit facilities ahead of Tuesday meeting
By Sara Rosenberg
New York, July 10 – SnapAV’s new senior secured credit facilities that will launch with a bank meeting at 10:30 a.m. ET in New York on Tuesday include a $265 million term loan and a $50 million revolver, according to a market source.
UBS Investment Bank and SunTrust Robinson Humphrey Inc. are the leads on the $315 million of credit facilities.
Proceeds will be used to help fund the buyout of the company by Hellman & Friedman LLC from General Atlantic.
Closing is expected in the third quarter.
SnapAV is a Charlotte, N.C.-based manufacturer of audio, video, networking, power and surveillance products for residential and commercial A/V integrators.
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