Alight’s Tempo renews term loans, obtains $2 billion more term loans

By Rebecca Melvin

Concord, N.H., Feb. 1 – Tempo Acquisition LLC. a subsidiary of Alight Inc., has amended a credit agreement with its syndicate of lenders to create a new class of initial term B-1 loans, in the amount of $523,687,500 on the same conditions as its existing term loans, and to incur an additional $1,956,019,075.37 of term B-1 loans, according to an 8-K filed with the Securities and Exchange Commission.

The term B-1 loans under the Jan. 31 amended credit agreement mature on Aug. 31, 2028.

They bear interest as SOFR plus 100 basis points, subject to a SOFR floor of 0.5%, plus fees connected with the amended credit agreement.

Bank of America NA, Barclays Bank plc, BMO Capital Markets Corp., Citibank NA, Credit Suisse Loan Funding LLC, Goldman Sachs Bank USA, JPMorgan Chase Bank NA, Morgan Stanley Senior Funding, Inc. and RBC Capital Markets LLC are joint lead arrangers and joint bookrunners for the amendment, the additional initial term B-1 loans and the additional incremental term B-1 loans.

Blackstone Securities Partners LP has agreed to act as co-manager for the amendment and additional incremental term B-1 loans.

The human resources services firm is based in Las Vegas.

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