Alorica readies launch of $450 million term loan B for Tuesday

By Sara Rosenberg

New York, June 3 – Alorica Inc. is set to hold a bank meeting at 12:30 p.m. ET in New York on Tuesday to launch a $450 million six-year first-lien term loan B, according to a market source.

Credit Suisse Securities (USA) LLC, Bank of America Merrill Lynch, Bank of the West, BNP Paribas Securities Corp. and Wells Fargo Securities LLC provided the financing commitments.

Included in the term loan B is 101 soft call protection for one year and a maximum gross leverage covenant, the source said.

Commitments are due on June 21.

The company’s $1.12 billion credit facility (BB) is also expected to provide for a $225 million revolver and a $445 million term loan A.

Proceeds will be used to fund the acquisition of Expert Global Solutions from One Equity Partners.

Closing is expected in the third quarter, subject to customary conditions, including applicable regulatory requirements.

Alorica is an Irvine, Calif.-based provider of services, including customer relationship management and back office support. Expert Global Solutions is a Plano, Texas-based customer service organization.

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