Acacium Group completes $140M add-on term loan for M&A; terms

Acacium Group Ltd. has completed a $140 million dollar-denominated non-fungible incremental covenant-lite first-lien term loan due June 2028 that cleared at a spread of 525 basis points over the secured overnight financing rate and a credit spread adjustment, and a 0.50% floor, according to sources. The add-on term loan priced at an original issue discount of 99 via lead arranger BofA Securities. Proceeds from the deal will be used to finance the acquisition of a U.S. target and related costs, the discharge of existing debt and related fees and expenses, and otherwise for general corporate purposes. The term loan is coterminous with the issuer's existing GBP-denominated first-lien term loan that is priced at S+525 with a 0% floor. Onex-backed Acacium, formerly known as Independent Clinical Services, provides specialized staffing and workforce management services to health, social services and life sciences businesses.

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