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Alexander Mann allocates $162 million and £200 million term loans
By Sara Rosenberg
New York, Aug. 7 – Alexander Mann Solutions allocated its $162,087,500 seven-year term loan B and £200 million seven-year term loan B on Tuesday, according to a market source.
Pricing on the term loan B debt is Libor plus 550 basis points with a 0% Libor floor and it was sold at an original issue discount of 96.
The term loan B debt has 101 soft call protection for one year.
Previously, the debt was talked as a U.S. tranche of £100 million to £125 million equivalent and a pound sterling tranche talk of £200 million to £225 million, the discount was revised from 99.5 and the call protection was extended from six months.
Bank of America Merrill Lynch and HSBC are the bookrunners and mandated lead arrangers on the deal. HSBC is the agent.
Proceeds will be used to help fund the buyout of the company by OMERS Private Equity for an enterprise value of £820 million.
Alexander Mann is a Berkshire, England-based talent acquisition and management business.
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