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PAE Holding to launch $153 million of term loans on Thursday
By Sara Rosenberg
New York, April 19 – PAE Holding Corp. is scheduled to hold a lender call on Thursday to launch $153 million of incremental term loans, according to a market source.
Bank of America Merrill Lynch, Citizens Bank and Morgan Stanley Senior Funding Inc. are the lead banks on the deal.
The debt is split between a $95 million incremental term loan B due 2022 and a $58 million incremental second-lien term loan, the source said.
Proceeds will be used to fund the acquisition of FCi Federal, an Ashburn, Va.-based provider of essential services for immigration and national security including adjudication support, eligibility verification and business process outsourcing services for federal government customers.
Closing is subject to regulatory approval.
PAE, a portfolio company of Platinum Equity, is an Arlington, Va.-based provider of support services for the U.S. government, its allied partners and international organizations.
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