Ceridian to launch roughly $1.38 billion of term loans on Wednesday

By Sara Rosenberg

New York, July 14 – Ceridian LLC will hold a bank meeting at 9:30 a.m. ET in New York on Wednesday to launch $1,375,000,000 of term loans, according to a market source.

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

The debt consists of a $673 million term loan B-1 due May 2017 and a $702 million term loan B-2 due September 2020, the source said.

Proceeds will be used to refinance/bifurcate the existing term loan into two distinct loan tranches.

Commitments are due on July 29, the source added.

Ceridian is a Minneapolis-based provider of human resources, transportation and retail information management services.

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