Infoblox firms $497.5 million term loan at Libor plus 450 bps

By Sara Rosenberg

New York, Jan. 11 – Infoblox Inc. finalized pricing on its $497.5 million covenant-light first-lien term loan (B1/B-) due Nov. 7, 2023 at Libor plus 450 basis points, the high end of the Libor plus 425 bps to 450 bps talk, according to a market source.

Also, the Libor floor on the loan was revised to 0% from 1%, the source said.

The term loan still has a par issue price and 101 soft call protection for six months.

Bank of America Merrill Lynch is the lead bank on the deal.

Proceeds will be used to reprice an existing first-lien term loan down from Libor plus 500 bps with a 1% Libor floor.

Infoblox is a Santa Clara, Calif.-based provider of Actionable Network Intelligence to enterprise, government and service provider customers.

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