System One to launch $325 million credit facilities on Wednesday

By Sara Rosenberg

New York, Jan. 12 – System One Holdings LLC is scheduled to hold a lender call at 1 p.m. ET on Wednesday to launch $325 million of credit facilities, according to a market source.

Truist Securities is the left lead arranger on the deal.

The facilities consist of a $45 million revolver and a $280 million seven-year covenant-lite term loan B, the source said.

Proceeds will be used to help fund the buyout of the company by Oaktree Capital Management LP.

Closing is expected this quarter, subject to regulatory approvals and other customary conditions.

System One is a Pittsburgh-based provider of specialized workforce solutions and integrated services.

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