Ceridian HCM readies launch of $672 million term loan B for Friday

By Sara Rosenberg

New York, Feb. 6 – Ceridian HCM Holding Inc. is scheduled to hold a lender call at 10 a.m. ET on Friday to launch a $672 million covenant-lite term loan B due April 30, 2025, according to a market source.

Deutsche Bank Securities Inc. is the bookrunner on the deal.

Price talk on the term loan B is Libor plus 250 basis points with a par issue price, the source said.

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

Proceeds will be used to reprice an existing term loan B.

Commitments are due at 5 p.m. ET on Feb. 13, the source added.

Ceridian is a provider of cloud-based human capital management technology.

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