Boxwood modifies debt commitment to reduce term debt amount

By Sara Rosenberg

New York, Jan. 28 – Boxwood Merger Corp., which will be renamed Atlas Technical Consultants Inc., revised its debt commitment to reduce the first-lien term loan amount to $281 million from $290 million and eliminate the $70 million second-lien term loan, according to a DEFA14A filed with the Securities and Exchange Commission on Tuesday.

The debt commitment still provides for a $40 million revolver.

Macquarie Capital (USA) Inc. and Natixis are the lead arrangers on the deal.

Proceeds will be used to fund Boxwood’s acquisition of Atlas Intermediate Holdings LLC.

Atlas is an Austin, Tex.-based provider of professional testing, inspection, engineering and consulting services. Boxwood is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

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