Alorica readies launch of $301 million term loan for Tuesday

By Sara Rosenberg

New York, July 17 – Alorica Inc. will hold a lender call at 11 a.m. ET on Tuesday to launch a $301 million first-lien term loan (B1/BB-) due June 30, 2022, according to a market source.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

Price talk on the term loan is Libor plus 375 basis points with a 0.75% Libor floor and a par issue price, the source said.

The term loan has 101 soft call protection for six months and a maximum gross leverage covenant.

Proceeds will be used to reprice an existing term loan down from Libor plus 475 bps with a 0.75% Libor floor.

Commitments are due at 5 p.m. ET on July 27, the source added.

Alorica is an Irvine, Calif.-based provider of outsourced customer and financial care solutions.

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