Oasis Outsourcing sets talk on first- and second-lien term loans

By Sara Rosenberg

New York, June 15 – Oasis Outsourcing Holdings Inc. released price talk on its $325 million six-year first-lien term loan and $85 million seven-year second-lien term loan in connection with its lender call on Thursday, according to a market source.

The first-lien term loan is talked at Libor plus 375 basis points to 400 bps with a 1% Libor floor and an original issue discount of 99.5, and the second-lien term loan is talked at Libor plus 775 bps to 800 bps with a 1% Libor floor and a discount of 99, the source said.

Included in the first-lien term loan is 101 soft call protection for six months, and the second-lien term loan has call protection of 102 in year one and 101 in year two.

The term loans have a total net leverage ratio covenant.

RBC Capital Markets LLC and SunTrust Robinson Humphrey Inc. are the joint bookrunners on the $410 million in term loans.

Commitments are due on June 28, the source added.

Proceeds will be used to refinance existing debt and fund a small acquisition.

Oasis Outsourcing, a Stone Point Capital owned company, is a West Palm Beach, Fla.-based provider of comprehensive and cost-effective HR outsourcing services to small- and medium-sized businesses.

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