KeyPoint Government Solutions gets $130 million credit facility

By Sara Rosenberg

New York, Jan. 3 - KeyPoint Government Solutions Inc. closed on a new $130 million credit facility, according to a market source.

UBS and KeyBank acted as the joint lead arrangers and bookrunners on the deal that was completed on Dec. 31, with UBS the administrative agent.

The facility consists of a $10 million revolver due June 30, 2015, a $60 million term loan A due June 30, 2015 and a $60 million term loan B due Dec. 31, 2015.

Pricing on the term loan A is Libor plus 750 basis points with a 2% Libor floor, and the loan was sold at an original issue discount of 98. Pricing on the term loan B is Libor plus 800 bps with a 2% floor, and it too was sold at 98, the source said.

Proceeds were used to fund a dividend.

KeyPoint is a Loveland, Colo.-based provider of security clearance background investigations and site inspections for multiple government agencies.

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