TASC preps launch of $65 million incremental term loan for Wednesday

By Sara Rosenberg

New York, March 20 - TASC Inc. is scheduled to hold a conference call at 10 a.m. ET on Wednesday to launch a $65 million incremental term loan, according to a market source.

Barclays Capital Inc., RBC Capital Markets LLC, KKR Capital Markets and Deutsche Bank Securities Inc. are leading the deal, with Barclays the left lead.

Pricing on the loan is Libor plus 325 basis points with a 1.25% Libor floor, in line with existing term loan pricing, the source said.

Original issue discount on the incremental debt is still to be determined, as is the use of proceeds, the source added.

Amortization is 1% per annum.

Commitments are due at 5 p.m. ET on Friday.

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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