BofA Business Capital Arranges RDS ABL
Bank of America Merrill Lynch is joint lead arranger, joint bookrunner and syndication agent in a $150 million asset-based revolver to Readerlink Distribution Services (RDS). Proceeds, in part, were used to acquire Baker & Taylor Marketing Services U.S. (BTMS).
“We appreciate Bank of America Merrill Lynch’s support in this transaction, which provides us with additional assets and expertise to continue our long-standing, proven commitment to customer service and to help us and our new retail partners succeed in a dynamic and evolving book market,” said Dennis E. Abboud, President and CEO of RDS.
“Our new relationship with Readerlink is a great example of the capability of Bank of America Merrill Lynch to deliver seamless and efficient credit solutions to our clients,” said Jeff McLane, President of Bank of America Business Capital. “We look forward to helping RDS grow and prosper in the coming years.”
Readerlink is a full-service book distribution company to non-trade booksellers in the United States, selling approximately one out of every three trade books sold nationwide.