MSX International updates U.S. and euro term loan sizes, pricing

By Sara Rosenberg

New York, Nov. 15 – MSX International sized its U.S. term loan B-4 due January 2024 at $50 million, versus prior talk of up to $100 million, and its euro term loan B-3 due January 2024 at €498 million, compared to previous talk of a minimum of €454 million, according to a market source.

Also, pricing on the U.S. term loan was increased to Libor plus 475 basis points from talk in the range of Libor plus 425 bps to 450 bps, and the original issue discount widened to 99.25 from 99.5, the source said.

Pricing on the euro term loan finalized at Euribor plus 450 bps, the high end of the Euribor plus 425 bps to 450 bps talk.

As before, both term loans have a 0% floor and 101 soft call protection for six months, and the euro term loan has an original issue discount of 99.75.

HSBC and Nomura are the physical bookrunners on the deal. RBC and J.P. Morgan are bookrunners. RBC is the agent.

Proceeds will be used to amend and restate senior facilities.

MSX, a Bain Capital portfolio company, is a business process outsourcing company.

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