Oasis Outsourcing launches $87 million add-on loan at par issue price

By Sara Rosenberg

New York, June 21 – Oasis Outsourcing Holdings Inc. launched on Thursday its fungible $87 million add-on first-lien term loan due June 30, 2023 with talk of a par issue price, according to a market source.

Pricing on the add-on term loan is Libor plus 325 basis points with a 1% Libor floor, in line with existing term loan pricing, the source said.

RBC Capital Markets, SunTrust Robinson Humphrey Inc., Citizens Bank and KeyBanc Capital Markets are the joint lead arrangers on the deal.

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

Proceeds will be used to fund acquisitions.

Oasis Outsourcing, a Stone Point Capital and Kelso & Co. 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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