Korn Ferry borrows $150 million delayed-draw term loan for acquisition

By Marisa Wong

Morgantown, W.Va., Nov. 30 – Korn/Ferry International borrowed the $150 million delayed-draw term loan under its credit agreement dated Jan. 18, 2013 with Wells Fargo Bank, NA, according to an 8-K filing with the Securities and Exchange Commission.

The company borrowed the delayed-draw term loan in anticipation of settling the cash portion of its acquisition of all the issued and outstanding shares and non-interest bearing convertible preferred equity certificates of HG (Bermuda) Ltd.’s wholly owned subsidiary, HG (Luxembourg) Sarl.

Korn Ferry is an executive search firm based in Los Angeles.

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