HelpSystems shops $1.37 billion term loan at Libor plus 375-400 bps

By Sara Rosenberg

New York, May 24 – HelpSystems is talking its $1,365,465,000 senior secured first-lien term loan (B2/B-) due November 2026 at Libor plus 375 basis points to 400 bps with a 0.75% Libor floor and a par issue price, according to a market source.

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

No lender call was held for the transaction.

Jefferies LLC is the lead arranger on the deal.

Consents and commitments are due at noon ET on Thursday.

Proceeds will be used to reprice an existing first-lien term loan down from Libor plus 475 bps with a 1% Libor floor.

HelpSystems, a portfolio company of TA Associates, HGGC and Charlesbank, is an Eden Prairie, Minn.-based provider of IT operations management and monitoring, cybersecurity and business intelligence software.

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