Kroll enters into new $100 million credit facility

By Sara Rosenberg

New York, Sept. 5 - Kroll Inc. entered into a new $100 million credit facility to help fund the acquisition of Zolfo Cooper, a business advisory and interim management firm. Goldman Sachs Credit Partners LP acted as sole lead arranger, sole bookrunner, syndication agent, administrative agent and collateral agent. Credit Suisse First Boston and Bear, Stearns Corporate Lending Inc. acted as co-documentation agents.

The loan consists of a $75 million three-year term loan and a $25 million three-year revolver, according to a filing with the Securities and Exchange Commission. The interest rate on the term loan can vary from Libor plus 225 to 400 basis points and the interest rate on the revolver can vary from Libor plus 200 to 375 basis points, depending on the company's secured debt rating and leverage ratio.

Borrowings under the revolver are limited to 85% of the company's and certain subsidiaries eligible receivables. There is an unused commitment fee of 37.5 basis points on the revolver, according to the filing.

Security is a lien on substantially all assets of the company and its domestic subsidiaries, pledges of all capital stock shares in domestic subsidiaries, pledges of 65% of the capital stock in certain foreign subsidiaries and pledges of 65% of the guarantors' capital stock in certain foreign subsidiaries.

Kroll is a New York, N.Y. risk consulting company.

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