Centerplate to launch $420 million credit facility on Wednesday

By Sara Rosenberg

New York, Nov. 12 - Centerplate Inc. will hold a bank meeting on Wednesday to launch a $420 million credit facility, according to a market source.

GE Capital Markets, PNC Capital Markets LLC and Rabobank are leading the deal.

The facility consists of a $75 million revolver and a $345 million term loan B, the source said.

Proceeds will be used to refinance existing debt.

Centerplate is a Stamford, Conn.-based provider of food and beverage concessions, high-end catering and merchandise services in sports facilities, convention centers and other entertainment facilities.

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