Alorica launches $450 million term loan B at Libor plus 500 bps

By Sara Rosenberg

New York, June 7 – Alorica Inc. launched on Tuesday its $450 million six-year first-lien term loan B with price talk of Libor plus 500 basis points with a 0.75% Libor floor and an original issue discount of 99, according to a market source.

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

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.

Commitments are due on June 21.

The company’s $1.12 billion credit facility (B1/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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