Sterling Infosystems, Inc.

Overview

Deal Type Debt Capital Markets
Size $700 Million
Senior Secured Credit Facilities
Client & Transactional Partners Sterling Infosystems, Inc.
Our Role Left Lead Arranger
Joint Bookrunner
Administrative Agent

Summary

On November 29, 2022, KeyBanc Capital Markets (KBCM) successfully closed the syndication of $700 million of Senior Secured Credit Facilities (the Credit Facilities) for Sterling Infosystems, Inc., a subsidiary of Sterling Check Corp. (Sterling). The Credit Facilities consist of a $400 million Senior Secured Revolving Credit Facility and a $300 million Senior Secured Term Loan. Proceeds from the Credit Facilities will be used to refinance existing indebtedness, fund working capital needs, general corporate purposes, and pay transaction-related fees and expenses. KBCM acted as Left Lead Arranger, Joint Bookrunner and Administrative Agent on the transaction.

Sterling (NASDAQ: STER) — a leading provider of background and identity services — offers background and identity verification to help over 50,000 clients create people-first cultures built on a foundation of trust and safety. Sterling’s tech-enabled services help organizations across all industries establish great environments for their workers, partners, and customers. With operations around the world, Sterling conducted more than 95 million searches in the twelve months ended December 31, 2021.

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