Alight extends, increases revolving commitments to $294.2 million

Chicago, Aug. 26 – Alight, Inc. announced that indirect wholly owned subsidiary Tempo Acquisition, LLC closed on a sixth amendment to its credit agreement on Aug. 24, according to an 8-K filing with the Securities and Exchange Commission.

The amended facility included revolving commitments that have been increased to $294.2 million.

The extended revolving credit commitments now have a maturity date of Aug. 31, 2026.

Interest on the revolver is Libor plus 275 basis points and 300 bps, based on leverage. The commitment fee is between 37.5 bps and 50 bps, also based on leverage. The rates were previously listed in the fifth amendment and referenced in the filing on Thursday.

The amended facility was part of a broader amended agreement which includes a previously reported third incremental term loan in the amount of $525 million due Aug. 31, 2028 from Alight Solutions.

Bank of America, NA, Barclays, BMO Capital Markets Corp., Citibank, NA, Credit Suisse Loan Funding LLC, Goldman Sachs Bank USA, JPMorgan Chase Bank, NA, Morgan Stanley Senior Funding, Inc. and RBC Capital Markets, LLC worked as joint lead arrangers and joint bookrunners.

Blackstone Securities Partners LP and Trasimene Capital Management, LLC were co-managers.

Bank of America, NA is the administrative agent.

Alight is a Lincolnshire, Ill.-based provider of integrated, cloud-based human capital solutions.

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