Alight Solutions to price $200 million tap of Tempo Acquisition 6¾% notes on Wednesday

By Paul A. Harris

Portland, Ore., Nov. 14 – Alight Solutions plans to price a $200 million add-on to the Tempo Acquisition, LLC and Tempo Acquisition Finance Corp. 6¾% senior notes due June 1, 2025 (existing ratings Caa1/CCC+) on Wednesday afternoon, according to a market source.

An investor call was scheduled to get underway at 2 p.m. ET on Tuesday.

Barclays is the left bookrunner for the Rule 144A and Regulation S for life offering. BofA Merrill Lynch, Citigroup Global Markets Inc., Macquarie Capital, Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. and CIBC World Markets are the joint bookrunners.

The notes become callable on June 1, 2020 at 103.375.

The Lincolnshire, Ill.-based provider of benefits outsourcing services plans to use the proceeds, together with a $185 million incremental term loan and $25 million of cash on hand, to return capital to shareholders.

The original $500 million issue priced at par on April 20, 2017.

The add-on notes will become fungible with the original notes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.