Alexander Mann wraps $332.5 million, £115 million term loans

By Sara Rosenberg

New York, July 26 – Alexander Mann Solutions Ltd. allocated on Wednesday a $332.5 million term loan B due June 29, 2027 and a £115 million term loan B due June 29, 2027, according to a market source.

Pricing on the term loan debt is SOFR/Sonia plus 600 basis points with a 0% floor and an original issue discount of 97, the source said.

The U.S. term loan has CSA of 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, and the sterling term loan has CSA of 3.26 bps one-month rate, 6.33 bps two-month rate, 11.93 bps three-month rate and 27.66 bps six-month rate.

Included in the term loans is 101 soft call protection for six months, the source added.

HSBC Securities is the sole physical bookrunner and agent on the deal, and Morgan Stanley Senior Funding Inc. is a joint bookrunner.

Proceeds will be used to refinance existing U.S. and sterling term loans Bs due 2025.

Alexander Mann is a London-based specialty recruitment process outsourcer providing integrated workforce planning, talent acquisition and talent management solutions, and outsourcing and consulting services.

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