Alexander Mann to launch $190 million credit facility on Dec. 2

By Sara Rosenberg

New York, Nov. 25 - Alexander Mann Solutions (AMS Newco Ltd. to be renamed Violin Newco Ltd.) is scheduled to hold a bank meeting at 2 p.m. ET in New York on Dec. 2 to launch a $190 million credit facility, according to a market source.

Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc. and ING Capital are the lead banks on the deal.

The facility consists of a $40 million five-year revolver and a $150 million six-year first-lien term loan, the source said.

The term loan has a 101 soft call protection for one year and a maximum net total leverage covenant.

Commitments are due on Dec. 11, the source added.

Proceeds will be used to help fund the buyout of the company by New Mountain Capital LLC.

The transaction is subject to EU Competition Commission approval.

Alexander Mann is a London-based talent acquisition and management business.

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