Apex Group to launch $1.39 billion equivalent term loan on Tuesday

By Sara Rosenberg

New York, July 12 – Apex Group is set to hold a lender call at 10 a.m. ET on Tuesday to launch a $1.392 billion equivalent U.S. and euro term loan B (B1/B-), according to a market source.

JPMorgan Chase Bank is the left lead on the deal.

Price talk on the U.S. term loan tranche is Libor plus 375 basis points with a 0.5% Libor floor and an original issue discount of 99.5, and talk on the euro term loan tranche is Euribor plus 400 bps to 425 bps with a 0% floor and a discount of 99.5, the source said.

The term loans have 101 soft call protection for six months.

Commitments are due at 5 p.m. ET on July 22, the source added.

Proceeds will be used to refinance existing debt and fund acquisitions.

Apex is a provider of fund administration services, financial and corporate solutions.

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