BofA Merrill Lynch Arranges $200 Million Facility for Alorica
Alorica, a provider of outsourced customer management solutions, announced that it has secured a five-year, $200 million senior secured credit facility.
The credit facility includes an additional revolving accordion feature, which will allow the company to borrow an additional $125 million, extending its total line of credit borrowing to $325 million. The new facility will be used to fund working capital, growth initiatives and acquisitions.
Bank of America Merrill Lynch served as sole lead arranger and sole bookrunner. Other participating banks include Wells Fargo, Bank of the West, BBVA Compass Bank, HSBC and Union Bank. The financing was oversubscribed.
“This credit facility is a sign of Alorica’s financial strength and credibility. We are proud that we have been able to achieve a facility like this in today’s economic climate,” said Andy Lee, chairman and CEO of Alorica. “This financing supports our dynamic growth strategy and allows us to continue to invest in select strategic acquisitions and our service infrastructure,” added Andy Lee.