On Assignment gets $125 million credit facility at Libor plus 275 bps

By Sara Rosenberg

New York, Dec. 6 - On Assignment Inc. announced a new $125 million five-year credit facility that is initially priced at Libor plus 275 basis points, according to a news release.

The deal is comprised of a $50 million term loan and a $75 million revolver.

Proceeds are being used to refinance the company's existing $77.9 million term loan and undrawn revolver that are both priced at Libor plus 375 bps with a 3% Libor floor.

On Assignment is a Calabasas, Calif.-based provider of diversified professional staffing solutions.

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