CACI upsizes revolver and term loan A, cancels term loan B tranche

By Sara Rosenberg

New York, Nov. 13 - CACI International Inc. lifted its five-year revolver to $850 million from $750 million and its five-year term loan A to about $831 million from $631 million, and eliminated plans for a $300 million seven-year term loan B, according to a market source.

Pricing on the revolver and term loan A is initially Libor plus 200 basis points, with the revolver having a 35 bps undrawn fee. The spread can range from Libor plus 125 bps to 250 bps and the revolver undrawn fee can range from 20 bps to 40 bps, based on leverage.

The revolver and term loan A were launched to investors in October and have already allocated, while the term loan B had yet to come to market.

Bank of America Merrill Lynch, J.P. Morgan Securities LLC, PNC Capital Markets LLC, RBC Capital Markets LLC, SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC are the joint lead arrangers and bookrunners on the $1,681,000,000 senior secured credit facility (Ba2/BB+).

Proceeds, along with cash on hand, will be used to fund the $820 million acquisition of Six3 Systems Inc. from GTCR.

Closing is expected in the quarter ending December, subject to customary regulatory approvals.

CACI is an Arlington, Va.-based provider of professional services and information technology to the federal government. Six3 is a McLean, Va.-based provider of strategic and differentiated services to support the missions of customers in the U.S. national security and defense intelligence communities.

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