ManTech US$2.85bn take-private debt financing (Carlyle)
Fund the acquisition of ManTech by Carlyle Partners VIII alongside an equity commitment of up to about US$2.34bn
Key terms
- Borrower or issuer
- ManTech International
- Date
- 13 May 2022
- Type
- Acquisition finance
- Amount
- US$2.85bn
Recorded terms
- Structure
- Committed senior secured first-lien term loan of US$2.1bn, first-lien delayed-draw term loan of US$500m and first-lien revolver of US$250m; about US$2.1bn expected to fund at closing
- Lenders and arrangers
- Debt commitment parties led by Blackstone Alternative Credit Advisors, with other financial institutions added by an amended and restated commitment letter
- Country
- United States
Parties
- ManTech International borrower or issuer
- Private credit: Blackstone Credit
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 5 Aug 2022 | QinetiQ £350m debt facilities for the Avantus acquisition | Acquisition finance | £350m |
| 22 Nov 2022 | L3Harris US$2.25bn term loan for the Viasat tactical data links acquisition | Acquisition finance | US$2.25bn |
| 25 Oct 2021 | Amentum US$1.94bn debt financing for the PAE acquisition | Acquisition finance | US$1.94bn |
| 27 Aug 2021 | Parker Hannifin US$2bn delayed-draw term loan for Meggitt | Acquisition finance | US$2bn |
| 2 Aug 2021 | Parker Hannifin £6.5bn bridge facility for Meggitt | Acquisition finance | £6.52bn |
Sources
- ManTech definitive merger proxy statement (DEFM14A): financing of the merger sec.gov · 4 Aug 2022
About this record
Record DEF-2022-0022, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
Acquisition debt is committed before signing, often as a bridge, and refinanced with bonds or term loans once the deal closes.
