UKG readies launch of $5.83 billion credit facilities for Tuesday

By Sara Rosenberg

New York, Jan. 22 – UKG Inc. is scheduled to hold a lender call at 3 p.m. ET on Tuesday to launch $5.83 billion of credit facilities, according to a market source.

Nomura, JPMorgan Chase Bank and others to be determined are the arrangers on the deal. Nomura is the administrative agent.

The facilities consist of a $945 million five-year revolver with a springing first-lien covenant, and a $4.885 billion seven-year covenant-lite first-lien term loan B, the source said.

Proceeds will be used with $2.5 billion of other secured debt to refinance existing first-lien term loans, pay down a revolver draw, fund cash to the balance sheet, and pay fees and expenses.

UKG is a provider of human capital management solutions based in Weston, Fla., and Lowell, Mass.

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