Qlik launches $1.39 billion term loan B at SOFR plus 400-425 bps

By Sara Rosenberg

New York, March 1 – Qlik Technologies Inc. (Project Alpha Intermediate Holding Inc.) held a lender call at 1 p.m. ET on Wednesday to launch a $1,389,836,000 covenant-lite term loan B due April 2027 (B3/B) that is talked at SOFR plus 400 basis points to 425 bps with a 0.5% floor and an original issue discount of 99 to 99.5, according to a market source.

The term loan has 101 soft call protection for six months, 0 bps CSA and amortization of 1% per annum, the source said.

Morgan Stanley Senior Funding Inc. is the left lead arranger on the deal.

Commitments are due at noon ET on March 8, the source added.

Proceeds will be used to amend and extend an existing term loan B due 2024.

Qlik is a King of Prussia, Pa.-based data analytics company.

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