Booz Allen Hamilton to launch $1.05 billion term loans on Thursday

By Sara Rosenberg

New York, Jan. 10 - Booz Allen Hamilton Holding Corp. is scheduled to hold a bank meeting on Thursday to launch $1.05 billion of term loans (Ba2/BBB-), according to a market source.

The debt will be comprised of a term loan A and a term loan B, but the breakdown has not yet been decided, the source said.

Bank of America is the left lead bank on the deal. Credit Suisse, Barclays, Morgan Stanley and Sumitomo are on the right.

Proceeds, along with cash on hand, will be used to refinance $1.021 billion of bank debt and $222 million of mezzanine debt.

The company is keeping its existing revolving credit facility in place but will extend the maturity to July 2014.

After completion of the refinancing, the company expects to have less total debt outstanding at lower interest rates.

Booz Allen Hamilton is a McLean, Va.-based provider of management and technology consulting services to the U.S. government in the defense, intelligence and civil markets.

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