Blucora cuts spread on $375 million term loan to Libor plus 375 bps

By Sara Rosenberg

New York, April 20 – Blucora Inc. reduced pricing on its $375 million seven-year covenant-light first-lien term loan to Libor plus 375 basis points from talk of Libor plus 400 bps to 425 bps, according to a market source.

As before, the term loan has a 1% Libor floor, an original issue discount of 99.5 and 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.

Recommitments were scheduled to be due at noon ET on Thursday, the source added.

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

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

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