Quorum plans $140 million credit facility for buyout by Silver Lake

By Sara Rosenberg

New York, July 14 – Quorum Business Solutions plans to get a new $140 million senior secured credit facility to help fund its acquisition by Silver Lake Partners from the Carlyle Group and Riverstone Holdings, according to a market source.

RBC Capital Markets is the lead bank on the deal.

The facility consists of a $15 million revolver and a $125 million seven-year term loan, the source said.

Included in the term loan is a leverage covenant.

Pricing on the transaction and a bank meeting date are not available at this time.

Closing is expected following the satisfaction of customary conditions and approvals.

Silver Lake and management rollover equity will comprise more than 60% of the capitalization, the source added.

Quorum is a provider of software and services to manage operational, administrative, financial and transactional business processes for energy, renewables and natural resource industry segments.

© 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.