Smart Start to launch $505 million credit facilities on Tuesday

By Sara Rosenberg

New York, Nov. 29 – Smart Start (Global IID Parent LLC) is scheduled to hold a lender call at 11 a.m. ET on Tuesday to launch $505 million of credit facilities, according to a market source.

Jefferies LLC, BNP Paribas Securities Corp., Barclays and RBC Capital Markets are the bookrunners on the deal.

The facilities consist of a $40 million five-year revolver, a $385 million seven-year first-lien term loan and an $80 million eight-year second-lien term loan, the source said.

Commitments are due at noon ET on Dec. 10.

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

Closing is expected this year, subject to customary conditions.

Smart Start is a Grapevine, Tex.-based provider of alcohol monitoring programs utilizing ignition interlock devices, vehicle breathalyzers mandated by government entities to DUI offenders in order to maintain licensure.

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