Blucora launches $375 million term loan at Libor plus 400-425 bps

By Sara Rosenberg

New York, April 5 – Blucora Inc. launched on Wednesday its $375 million seven-year covenant-light first-lien term loan with price talk of Libor plus 400 basis points to 425 bps with a 1% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months.

The company’s $425 million in credit facilities (B1/BB-) also include a $50 million revolver.

Credit Suisse Securities (USA) LLC, KeyBanc Capital Markets and SunTrust Robinson Humphrey Inc. are the lead banks on the deal.

Proceeds will be used to refinance an existing first-lien term loan and a convertible note.

Commitments are due at 5 p.m. ET on April 19.

Blucora is a Bellevue, Wash.-based technology-enabled financial solutions provider focused on tax preparation and financial advisory services.

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