McAfee Enterprise to launch $2.78 billion of term loans on Friday

By Sara Rosenberg

New York, April 14 – McAfee Enterprise is scheduled to hold a lender call on Friday to launch $2.775 billion of term loans, according to a market source.

UBS Investment Bank, Jefferies LLC, BofA Securities Inc. and HSBC Securities (USA) Inc. are the joint lead arrangers on the deal, with UBS the left lead.

The debt consists of a $2.175 billion first-lien term loan and a $600 million second-lien term loan, the source said.

Proceeds will be used to help fund the buyout of the company by a consortium led by Symphony Technology Group from McAfee Corp. for $4 billion.

Closing is expected in July, subject to customary regulatory approvals and conditions.

McAfee Enterprise is a provider of device-to-cloud cybersecurity solutions. The company generated net revenue of $1.3 billion in the fiscal year 2020.

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