TriNet launches $150 million incremental term B at OID in 99½ area

By Sara Rosenberg

New York, April 10 - TriNet HR Corp. launched on Wednesday its $150 million incremental term loan B (B2/B+) with original issue discount talk in the 99½ area, according to a market source.

Pricing on the loan is Libor plus 525 basis points with a 1.25% Libor floor, in line with existing term loan B pricing.

Bank of America Merrill Lynch, KeyBanc Capital Markets LLC, J.P. Morgan Securities LLC and BMO Capital Markets Corp. are leading the deal.

Proceeds will be used to fund a dividend and for general corporate purposes.

TriNet is a San Leandro, Calif., cloud-based provider of on-demand HR services.

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