EmployBridge ups spread on $725 million term B to Libor plus 475 bps

By Sara Rosenberg

New York, July 16 – EmployBridge Holding Co. increased pricing on its $725 million seven-year term loan B (B3/B-/BB-) to Libor plus 475 basis points from Libor plus 450 bps, according to a market source.

The term loan still has a 0.75% Libor floor, an original issue discount of 99 and 101 soft call protection for six months.

RBC Capital Markets, Credit Suisse Securities (USA) LLC, Barclays, Deutsche Bank Securities Inc., Macquarie Capital (USA) Inc., Mizuho, Goldman Sachs Bank USA and Citizens Bank USA are the lead arrangers on the deal.

Proceeds will be used to help fund the buyout of the company by Apollo Global Management Inc.

Closing is subject to customary conditions, including regulatory approvals.

EmployBridge is an Atlanta-based industrial staffing company.

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