Goldman Preps $400M Term Loan for Kroll Acquisition
July 14, 2010
Goldman Sachs is preparing to syndicate a $400 million term loan backing Altegrity’s acquisition of Kroll. The bank is expected to begin marking the loan Thursday, according to sources.
Price talk has not yet been determined. The total size of the term loan is $550 million, with $150 million put aside as an investment for a Goldman-affiliated fund.
Goldman has also privately placed $210 million in senior notes, with a yield of 12%, for the acquisition, according to Standard & Poor’s.
Providence Equity, which owns Altegrity, is contributing $450 million in equity to the transaction.
Altegrity is a Falls Church, Va.-based global screening and security solutions company. Kroll is a risk consulting company.
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