FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


RBC Capital Markets, SunTrust Arrange $260MM Facility for MSXI

August 25, 2014, 07:58 AM
Filed Under: Specialty Industries

MSX International (MSXI), a leading global business process outsourcing company, completed the refinancing of its outstanding debt and raised $260 million of senior secured credit facilities in a syndicated financing led by RBC Capital Markets and SunTrust Robinson Humphrey, Inc.  RBC Capital Markets and SunTrust Robinson Humphrey acted as Joint Lead Arrangers on the refinancing and Royal Bank of Canada will serve as the Administrative Agent to the company.  The proceeds of the refinancing were used to repay the debt incurred from the company's previous refinancing transaction in 2012.

The refinancing will result in a reduction of MSXI's annual debt interest costs by more than 50 percent.  Included in the new credit facilities, MSXI secured a $40 million revolving credit facility which will be provided by a group of lenders including Fifth Third Bank, FirstMerit Bank N.A., Hitachi Capital America Corp., and JPMorgan Chase Bank N.A.

"The successful refinancing of our entire outstanding debt and the significant reduction of our interest expense is an indication that the investment community values our business model and is confident our growth will remain strong," said Fred Minturn, MSXI president and C.E.O. "Our focus is always to ensure that we can serve our customers with innovation and excellence. A strong and continuously improving financial position allows us that focus."

MSX International (MSXI) is a business process outsourcing company that provides technology based services to enterprises in more than 80 countries. MSXI's deep industry expertise combined with advanced data analytics and custom software solutions improve the performance of automotive dealership networks by increasing revenue, reducing cost and enhancing customer satisfaction. Geometric Results, Inc. (GRI), a wholly owned subsidiary of MSXI, is the world's largest independent managed services provider in the human capital management industry. GRI maximizes the benefits of a contingent workforce on organizational performance on behalf of customers by maintaining a conflict free position relative to staffing suppliers and technology platforms.

Week's News

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.