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Insight Global launches $141 million credit facility via BNP Paribas
By Sara Rosenberg
New York, June 15 - Insight Global held a bank meeting on Tuesday to launch its proposed $141 million credit facility, according to a market source.
BNP Paribas is the lead bank on the deal.
The facility consists of a $20 million revolver and a $121 million term loan, with both tranches talked at Libor plus 525 basis points with a 1.75% Libor floor and an original issue discount of 98, the source said.
Proceeds from the facility, along with $35 million of mezzanine debt, will be used to help fund the buyout of the company by Harvest Partners.
Insight Global is an Atlanta-based provider of IT employment services.
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