CoAdvantage to launch $550 million term loan B on Wednesday

By Sara Rosenberg

New York, July 18 – CoAdvantage (AQ Carver Buyer Inc.) is scheduled to hold a lender call at 10 a.m. ET on Wednesday to launch a $550 million six-year term loan B, according to a market source.

Deutsche Bank Securities Inc. is the left lead bookrunner on the deal.

The term loan has 101 hard call protection for one year.

Commitments are due at 5 p.m. ET on July 27, the source added.

Proceeds will be used to refinance first- and second-lien debt and to pay a dividend.

CoAdvantage is a Tampa, Fla.-based professional employer organization and a provider of strategic human resource solutions.

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