Aptean places $80 million term loan at Libor plus 525 bps

By Sara Rosenberg

New York, June 24 – Aptean privately placed a non-fungible $80 million incremental first-lien term loan (B-) that is priced at Libor plus 525 basis points with a 1% Libor floor, according to a market source.

The term loan has 101 soft call protection for one year, the source said.

Golub was the lead arranger on the deal.

Proceeds are being used to fund the acquisition of WorkWise LLC and for general corporate purposes.

Aptean is an Alpharetta, Ga.-based provider of mission-critical enterprise software solutions. WorkWise is a Milwaukee-based provider of enterprise resource planning software solutions designed for discrete manufacturers and customer relationship management software.

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