Apex Group readies launch of $400 million term loan B for Thursday

By Sara Rosenberg

New York, Dec. 5 – Apex Group Ltd. is scheduled to hold a lender call at 9 a.m. ET on Tuesday to launch a fungible $400 million incremental term loan B due July 2028 (B1), according to a market source.

BofA Securities Inc., Goldman Sachs Bank USA, JPMorgan Chase Bank and Morgan Stanley Senior Funding Inc. are the leads on the deal.

Pricing on the incremental term loan is SOFR plus 500 basis points with a 0.5% floor.

The incremental term loan is talked with an original issue discount of 92 to 93, the source said.

Both the incremental term loan and the existing incremental term loan due July 2028 are getting 101 soft call protection for six months.

Commitments are due at noon ET on Thursday, the source added.

Proceeds will be used to fund the acquisition of Pacific Fund Systems and for general corporate purposes, including other acquisitions.

If the Pacific Fund purchase does not close by Jan. 16, the incremental term loan will be repaid at its OID, plus all accrued and unpaid interest.

Apex Group is a financial services provider.

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