EmployBridge firms $200 million add-on term loan OID at 99

By Sara Rosenberg

New York, Nov. 18 – EmployBridge Holding Co. set the original issue discount on its fungible $200 million add-on term loan B due July 2028 (B3/B-/BB-) at 99, the wide end of the 99 to 99.5 talk, according to a market source.

Pricing on the add-on term loan is Libor plus 475 basis points with a 0.75% Libor floor, in line with existing term loan pricing.

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

Proceeds will be used to help fund the acquisition of Hire Dynamics for $270 million.

Pro forma for the transaction, the term loan will total $925 million.

Apollo is the sponsor.

EmployBridge is an Atlanta-based provider of flexible workforce services. Hire Dynamics is a provider of commercial staffing and professional recruitment services.

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