Screenvision readies launch of $175 million term loan for Tuesday

By Sara Rosenberg

New York, June 7 – Screenvision LLC is scheduled to hold a bank meeting at 12:30 p.m. ET in New York on Tuesday to launch a $175 million seven-year covenant-light first-lien term loan, according to a market source.

Deutsche Bank Securities Inc. is the bookrunner on the deal.

The term loan has a 0% Libor floor and 101 soft call protection for six months, the source said.

Commitments are due at noon ET on June 26.

Proceeds will be used to help fund the acquisition of a controlling stake in the company by Abry Partners.

As part of the agreement, the company’s existing owners, Shamrock Capital and AMC Entertainment, will maintain minority stakes.

Closing is expected this summer.

Screenvision is a New York-based provider of cinema advertising, on-screen advertising, in-lobby promotions and integrated marketing programs.

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