TriNet Group, Inc., a provider of a comprehensive human resources solution for small to midsize businesses, announced that on June 21, 2018, it entered into a Credit Agreement providing for $675 million of new senior secured credit facilities used to refinance TriNet's outstanding indebtedness in a leverage-neutral transaction.  Bank of America, N.A., served as administrative agent, an 8K filing shows.

The new facilities include $425 million principal amount of new tranche A term loans maturing in 2023 and a new $250 million revolving credit facility maturing in 2023. TriNet's current corporate credit rating is Ba3 by Moody's Investor Service and BB- by S&P Global Ratings.

Pricing on the new term A loan and the revolver was set at LIBOR plus 1.625%, or the prime lending rate plus an applicable margin equal to 0.625%, which is subject to change in the future based on TriNet's leverage ratio.