Wachovia Securities will launch syndication of the $180 million credit for Right Management Consultants tomorrow. The credit backs the acquisition of U.K.-based Coutts Consulting Group and refinances existing debt. RMC specializes in career transition and organizational consulting and is buying CCG for approximately $108 million. The bank debt is split between a $90 million revolver and $90 million term loan "A" and is priced at LIBOR plus 2 1/4%. Fleet Bank, UBS Warburg and SunTrust Bank have signed on already said one banker. Lee Bohs, executive v.p., corporate development, did not return calls. A Wachovia spokeswoman declined comment.
Wachovia Launches Right Credit