NCO to sell $300 million bonds backing APAC acquisition

By Paul A. Harris and Sara Rosenberg

Portland, Ore., Nov. 28 - NCO Group Inc. plans to sell $300 million of bonds as part of the financing for the acquisition of APAC Customer Services Inc. by One Equity Partners, according to a market source.

An $870 million credit facility, which is also part of the financing, is scheduled to launch at a bank meeting on Wednesday.

Barclays Capital Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and RBS Securities Inc. are the lead banks.

Proceeds will be used to back the already completed roughly $470 million acquisition of APAC Customer Services Inc. by One Equity Partners, and merger with One Equity's portfolio company, NCO Group, and to refinance existing debt at both companies.

Other funds for the transaction are coming from $300 million of equity.

The combined company is being renamed Expert Global Solutions.

NCO is a Horsham, Pa.-based provider of business process outsourcing services. APAC is a Bannockburn, Ill.-based provider of customer care services.

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