Six3 Systems pulls $170 million facility due to market conditions

By Sara Rosenberg

New York, March 17 - Six3 Systems Inc. removed its $170 million credit facility (B3/B) from market as a result of worsening primary conditions, according to a market source.

The facility consisted of a $30 million revolver and a $140 million term loan.

Price talk on the term loan has been Libor plus 400 basis points with a 1.5% Libor floor and an original issue discount of 99, and there was 101 soft call protection for one year.

Bank of America Merrill Lynch and SunTrust Robinson Humphrey Inc. were the lead banks on the deal.

Proceeds were going to be used to refinance existing debt and for general corporate purposes.

Six3 is a McLean, Va.-based provider of strategic and differentiated services to support the missions of customers in the U.S. national security and defense intelligence communities.

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