Apex Group launches $300 million term loan at SOFR plus 500 bps

By Sara Rosenberg

New York, July 7 – Apex Group Ltd. launched a non-fungible $300 million incremental term loan due July 2028 that is talked at SOFR plus 500 basis points with a 0.5% floor and an original issue discount of 92 to 93, according to a market source.

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

BofA Securities Inc. is the lead on the deal.

Commitments are due at noon ET on Friday, the source added.

Proceeds will be used to help support the acquisitions of MMC Group, a provider of investment administration services in New Zealand, and the fund services and third-party management company business operations of Maitland International Holdings plc.

The MMC acquisition closed in May.

Apex Group is a financial services provider.

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