Oasis firms $325 million first-lien term loan at Libor plus 375 bps

By Sara Rosenberg

New York, June 29 – Oasis Outsourcing Holdings Inc. finalized pricing on its $325 million six-year first-lien term loan (B1/B) at Libor plus 375 basis points, the low end of the Libor plus 375 bps to 400 bps talk, according to a market source.

As before, the first-lien term loan has a 1% Libor floor, an original issue discount of 99.5 and 101 soft call protection for six months.

RBC Capital Markets LLC and SunTrust Robinson Humphrey Inc. are the lead banks on the deal.

The company is also getting an $85 million seven-year second-lien term loan (Caa1/CCC+) that was placed by Stone Point Capital.

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

Oasis will be getting a substantial equity investment from Kelso & Co. concurrently with the debt financing transaction.

Kelso will be joining Stone Point Capital and management as investors in the company.

Oasis 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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