IT services firm ManTech International Corp has launched a $2.3bn leveraged financing package — comprising a $2.15bn term loan B and a $150m delayed-draw facility — in a bid to refinance existing private credit debt, according to a report by Bloomberg citing an unnamed person familiar with the matter.
The refinancing effort enables the company to replace or extend its non-bank debt facilities by tapping the broadly syndicated loan (BSL) market and improving overall capital structure flexibility.
JPMorgan Chase & Co. is the lead bookrunner and administrator on the loans. They are working alongside Goldman Sachs Group Inc, Citigroup Inc, Morgan Stanley, Bank of Montreal, BNP Paribas, Citizens Financial Group, Royal Bank of Canada, and Jefferies Financial Group Inc.
