Webhelp launches €580 million equivalent incremental term loan

By Sara Rosenberg

New York, July 20 – Webhelp SAS held a lender call at 10 a.m. ET on Tuesday to launch a €580 million equivalent U.S. and euro seven-year senior secured incremental term loan B (B2), according to a market source.

The U.S. term loan is talked at Libor plus 375 basis points to 400 bps with a 0.5% Libor floor and an original issue discount of 99 to 99.5, and the euro term loan is talked at Euribor plus 375 bps to 400 bps with a 0% floor and a discount in the 99.5 area, the source said.

Included in the term loan debt is 101 soft call protection for six months on a repricing transaction.

The euro piece will not be fungible with the company’s existing euro loan and the U.S. piece is a new loan that is expected to be sized at a minimum of $350 million.

Goldman Sachs and KKR Capital Markets are the mandated lead arrangers and bookrunners on the deal. Other bookrunners include HSBC and RBC.

Commitments are due at 11 a.m. ET on July 29, the source added.

Proceeds will be used to help fund the acquisition of OneLink Holdings from One Equity Partners, repay revolver borrowings, repay existing OneLink debt and pay transaction related fees and expenses.

Webhelp is a Paris-based provider of customer experience and business solutions. OneLink is a provider of business process outsourcing and customer relationship management solutions.

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