TASC revives $675 million refinancing credit facility

By Paul A. Harris

Portland, Ore., April 25 - TASC Inc. plans to revive its $675 million credit facility during a Tuesday lender call, according to an informed source.

The deal, which was withdrawn in mid-March due to market conditions, is comprised of a $575 million revolver.

Pricing on the withdrawn deal was set at Libor plus 325 basis points with a 1.25% Libor floor, at an original issue discount of 99.50.

Pricing on the revived deal will be announced during the Tuesday call.

A 6.75-times leverage maintenance test has been added to the term loan.

The pro rata tranche is a $100 million revolver.

Barclays Capital Inc. is the left lead. Deutsche Bank Securities Inc., KKR Capital Markets and RBC Capital Markets are the joint leads.

Proceeds will be used to refinance debt.

TASC is a Chantilly, Va.-based provider of advanced systems engineering and technical assistance to the defense, intelligence, federal and homeland security markets.

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