Omnia Partners to launch $565 million credit facilities on Tuesday

By Sara Rosenberg

New York, April 27 – Omnia Partners Inc. scheduled a bank meeting for Tuesday to launch its $565 million of credit facilities, according to a market source.

Barclays, Ares, Jefferies LLC and Fifth Third are the bookrunners on the deal.

The facilities consist of a $30 million five-year revolver, a $390 million seven-year first-lien term loan and a $145 million eight-year second-lien term loan.

Proceeds will be used to help fund the acquisition of Communities Program Management LLC and to refinance existing debt.

Closing is expected in the second quarter, subject to customary conditions.

TA Associates is the sponsor.

Omnia is a Franklin, Tenn.-based group purchasing organization. Communities Program Management is the organization that staffs and manages the operations of the U.S. Communities Government Purchasing Alliance, which provides procurement resources and solutions to local and state government agencies, school districts, higher education and nonprofits.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.