CACI plans $800 million in term loans for purchase of Six3 Systems

By Sara Rosenberg

New York, Oct. 9 - CACI International Inc. has received a commitment for $800 million in incremental senior secured debt to help fund its acquisition of Six3 Systems Inc. from GTCR, company officials said in a conference call on Wednesday.

The debt is expected to consist of term loan A and term loan B borrowings, officials continued.

Pricing on the term loan A loan is anticipated to be at the Libor plus 200 basis points level based on leverage.

Bank of America Merrill Lynch is the lead bank on the deal.

Other funds for the $820 million acquisition will come from borrowings under the company's existing revolver and cash on hand.

Expected pro forma debt to last-12-months EBITDA is around 3.5 times, but the company anticipates that strong free cash flows will allow for near-term deleveraging.

Closing is expected in the quarter ending December, subject to customary regulatory approvals.

CACI is an Arlington, Va.-based provider of professional services and information technology to the federal government. Six3 is a McLean, Va.-based provider of strategic and differentiated services to support the missions of customers in the U.S. national security and defense intelligence communities.

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