NCO Group to launch $870 million credit facility on Wednesday

By Sara Rosenberg

New York, Nov. 28 - NCO Group Inc. is scheduled to hold a bank meeting at 9:30 a.m. ET on Wednesday to launch a proposed $870 million credit facility, according to a market source.

Barclays Capital Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and RBS Securities Inc. are the lead banks on the deal.

The facility consists of a $120 million revolver and a $750 million term loan, the source said.

Proceeds will be used to back the already completed roughly $470 million acquisition of APAC Customer Services Inc. by One Equity Partners, and merger with One Equity's portfolio company, NCO Group, and to refinance existing debt at both companies.

Other funds for the transaction are coming from $300 million of bonds and $300 million of equity.

The combined company is being renamed Expert Global Solutions.

NCO is a Horsham, Pa.-based provider of business process outsourcing services. APAC is a Bannockburn, Ill.-based provider of customer care services.

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