United Site Services to launch $1.25 billion term loan B on Wednesday

By Sara Rosenberg

New York, Oct. 26 – United Site Services (PECF USS Intermediate Holding III Corp.) is set to hold a lender call at 11 a.m. ET on Wednesday to launch a $1.25 billion seven-year term loan B, according to a market source.

BofA Securities Inc., Goldman Sachs Bank USA, Morgan Stanley Senior Funding Inc., Barclays, Deutsche Bank Securities Inc. and Jefferies LLC are the arrangers on the deal.

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

Expected term loan ratings are B2/B-.

Commitments are due at 5 p.m. ET on Nov. 4, the source added.

Proceeds will be used to fund the acquisition of the company by a Platinum Equity Continuation Fund, to refinance existing debt, and to pay certain fees, commissions and expenses related to the transaction.

United Site Services is a Westborough, Mass.-based provider of portable restrooms, temporary fence and related site services.

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