On Assignment readies launch of term loan B repricing for Tuesday

By Sara Rosenberg

New York, June 20 – On Assignment Inc. is set to hold a lender call at 1 p.m. ET on Tuesday to launch a repricing of its roughly $700 million term loan B, according to a market source.

Wells Fargo Securities LLC is the lead bank on the deal.

Price talk on the term loan B is Libor plus 275 basis points with a 0.75% Libor floor and a par offer price, the source said.

The repriced term loan B has 101 soft call protection for six months.

Commitments are due on June 27, the source added.

The repricing will take pricing on the term loan B down from Libor plus 300 bps with a 0.75% Libor floor.

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

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