Oasis Outsourcing launches $25 million add-on term loan to lenders

By Sara Rosenberg

New York, Nov. 20 – Oasis Outsourcing Holdings Inc. was scheduled to hold a lender call at 3 p.m. ET on Monday to launch a fungible $25 million add-on first-lien term loan (B1/B) due June 30, 2023 that is talked at Libor plus 375 basis points with a 1% Libor floor and a par issue price, according to a market source.

The loan includes a total net leverage ratio covenant.

RBC Capital Markets LLC is the lead bank on the deal.

Commitments are due on Nov. 28, the source added.

Proceeds will be used to fund the acquisition of Staff One.

Including the add-on, the term loan will total $346 million.

Oasis Outsourcing, a Stone Point Capital & Kelso 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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