Credit Suisse First Boston is in the market with a $420 million refinancing for Addison, Texas-based beauty products seller Mary Kay on Wednesday. The debt consists of a $100 million, five-year revolver priced at LIBOR plus 3 1/4% with a commitment fee of 1/2%. There is also a $55 million, two-year asset sale term loan priced at LIBOR plus 3 3/4% and a $265 million six-year term loan "B" with an out-of-the-box spread of 3 3/4%. The new loan replaces a $515 million credit arranged in 1997, led by CSFB. Calls to officials at CSFB were not returned. Pricing on the old line could not be ascertained. David Holl, cfo, of the company that awards pink Cadillacs to sales consultants, was travelling and could also not be reached.
Pink Caddies For CSFB On Mary Kay Redux