Omnia Partners discloses talk on first- and second-lien term loans

By Sara Rosenberg

New York, May 1 – Omnia Partners Inc. released price talk on its $390 million seven-year first-lien term loan (B2/B) and $145 million eight-year second-lien term loan (Caa2/CCC+) in connection with its bank meeting on Tuesday, according to a market source.

Price talk on the first-lien term loan is Libor plus 375 basis points to 400 bps with a 0% Libor floor and an original issue discount of 99.5, and talk on the second-lien term loan is Libor plus 775 bps to 800 bps with a 0% Libor floor and a discount of 99, the source said.

The first-lien term loan has 101 soft call protection for six months and the second-lien term loan has call protection of 102 in year one and 101 in year two.

The company’s $565 million of credit facilities also include a $30 million five-year revolver (B2/B).

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

Commitments are due at noon ET on May 15, the source added.

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.

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