Eze Software firms $115 million term loan B-2 at Libor plus 350 bps

By Sara Rosenberg

New York, June 7 – Eze Software Group LLC set pricing on its $115 million non-fungible incremental first-lien covenant-light term loan B-2 (B1/B+) due April 4, 2020 at Libor plus 350 basis points, the tight end of the Libor plus 350 bps to 375 bps talk, according to a market source.

Also, the original issue discount on the term loan was changed to 99.5 from 99, the source said.

As before, the loan has a 1% Libor floor.

Recommitments were due at 5 p.m. ET on Tuesday, the source added.

Allocations are expected on Wednesday.

Bank of America Merrill Lynch, Morgan Stanley Senior Funding Inc., Jefferies Finance LLC and Deutsche Bank Securities Inc. are the lead banks on the deal.

Proceeds will be used to fund a one-time distribution to shareholders.

Eze Software is a Boston-based provider of investment technology to support the front, middle and back office.

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