Retail Solutions launches $150 million term B at Libor plus 500 bps

By Sara Rosenberg

New York, May 27 – Retail Solutions Group launched on Wednesday its $150 million seven-year term loan B with price talk of Libor plus 500 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term loan B has 101 soft call protection for six months, the source said.

Additionally, the loan includes a maximum first-lien net leverage covenant.

The company’s $165 million credit facility (B3) also provides for a $15 million revolver.

Jefferies Finance LLC, Macquarie Capital (USA) Inc. and Nomura are the joint lead arrangers on the deal.

Proceeds will be used to fund a distribution to shareholders and to capitalize the company.

Commitments are due on June 10, the source added.

Retail Solutions Group is a provider of omni-channel solutions for mid-sized and large retailers. The company is being spun off from Epicor Software Corp. into a separate privately held company under common ownership by funds advised by Apax Partners.

EBITDA at the company is $36.5 million.

Completion of the spinoff is expected in June.

© 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.