TriNet revises offer price on $150 million incremental term B to par

By Sara Rosenberg

New York, April 17 - TriNet HR Corp. tightened the offer price on its $150 million incremental term loan B (B2/B+) to par from 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.

Commitments are due on Thursday, accelerated from Friday, the source said.

BofA 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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