Oasis Outsourcing launches $80 million add-on first-lien term loan

By Sara Rosenberg

New York, Nov. 12 – Oasis Outsourcing held a lender call on Thursday to launch a fungible $80 million add-on first-lien term loan that is talked at an original issue discount of 99, according to a market source.

Pricing on the add-on loan is Libor plus 475 basis points with a 1% Libor floor, in line with existing first-lien term loan pricing, the source said.

RBC Capital Markets LLC is the lead on the deal.

Proceeds will be used to fund two acquisitions in the Professional Employer Organization space, the source added.

Commitments are due on Nov. 19.

Oasis is a West Palm Beach, Fla.-based provider of outsourced human resource, employee benefits, payroll and risk management services.

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