Alexander Mann launches $150 million term loan at Libor plus 525 bps

By Sara Rosenberg

New York, Dec. 2 - Alexander Mann Solutions (Violin Newco Ltd.) launched on Monday its $150 million six-year first-lien term loan with price talk of Libor plus 525 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for one year and a maximum net total leverage covenant.

The company's $190 million credit facility also includes a $40 million five-year revolver.

Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc. and ING Capital are the lead banks on the deal.

Commitments are due on Dec. 16, the source added.

Proceeds will be used to help fund the buyout of the company by New Mountain Capital LLC.

The transaction is subject to EU Competition Commission approval.

Alexander Mann is a London-based talent acquisition and management business.

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