Output Services to launch $295 million first-lien facilities Thursday

By Sara Rosenberg

New York, March 5 – Output Services Group Inc. (OSG Billing Services) will hold a bank meeting at 1 p.m. ET on Thursday to launch $295 million of first-lien credit facilities, according to a market source.

SunTrust Robinson Humphrey Inc. is the lead bank on the deal.

The facilities consist of a $15 million revolver (B1), a $230 million first-lien term loan (B1) and a $50 million delayed-draw first-lien term loan (B1), the source said.

In addition, the company is getting a $65 million pre-placed second-lien term loan (Caa1).

Proceeds will be used to refinance existing debt, add cash to the balance sheet and fund future acquisitions.

Output Services is a Ridgefield Park, N.J.-based provider of billing and customer communications services.

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