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ClientLogic $157 million credit facility to launch Monday
By Sara Rosenberg
New York, Jan. 27 - ClientLogic Corp. is scheduled to hold a bank meeting on Monday to launch its proposed $157 million credit facility, according to a syndicate document. Credit Suisse First Boston and TD Securities are joint lead arrangers on the deal.
The facility consists of a $30 million five-year revolver with an interest rate of Libor plus 450 basis points and a commitment fee of 50 basis points, a $92 million seven-year term loan B with an interest rate of Libor plus 450 basis points and a $35 million 71/2-year second-lien term loan with an interest rate of Libor plus 900 basis points, the document said.
Proceeds will be used to refinance debt.
ClientLogic, a portfolio company of Onex Corp., is a Nashville, Tenn., business process outsourcing provider.
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