ALKU lifts spread on $218 million term loan B to Libor plus 550 bps

By Sara Rosenberg

New York, Sept. 26 – ALKU LLC raised pricing on its $218 million term loan B to Libor plus 550 basis points from Libor plus 500 bps, according to a market source.

As before, the term loan has a 0% Libor floor, an original issue discount of 99 and 101 soft call protection for six months.

The company’s $248 million of credit facilities (B2/B-) also include a $30 million revolver.

Societe Generale and SunTrust Robinson Humphrey Inc. are the leads on the deal.

Commitments are due by the end of the day on Friday, the source said.

Proceeds will be used to help fund the buyout of the company by FFL Partners.

ALKU is an Andover, Mass.-based provider of temporary and contractual consultants in the technology, health care IT, life sciences and government sectors.

© 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.