Alorica reduces first-lien term loan B size to $350 million

By Sara Rosenberg

New York, June 15 – Alorica Inc. downsized its six-year first-lien term loan B to $350 million from $450 million, according to a market source.

With the term loan B downsizing, the company’s term loan A was upsized to $545 million from $445 million, the source said.

Pricing on the term loan B is still Libor plus 500 basis points with a 0.75% Libor floor and an original issue discount of 99, and the debt still has 101 soft call protection for one year and a maximum gross leverage covenant.

Credit Suisse Securities (USA) LLC, Bank of America Merrill Lynch, Bank of the West, BNP Paribas Securities Corp. and Wells Fargo Securities LLC are the leads on the deal.

Commitments are due at 5 p.m. ET on Friday, revised from the prior deadline of June 21.

The company’s $1.12 billion credit facility (B1/BB) also includes a $225 million revolver.

Proceeds will be used to fund the acquisition of Expert Global Solutions from One Equity Partners.

Closing is expected in the third quarter, subject to customary conditions, including regulatory requirements.

Alorica is an Irvine, Calif.-based provider of services, including customer relationship management and back office support. Expert Global Solutions is a Plano, Texas-based customer service organization.

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