Quorum Business to launch $230 million term loan on Wednesday

By Sara Rosenberg

New York, Sept. 4 – Quorum Business Solutions (QBS Parent Inc.) is scheduled to hold a bank meeting at 2:30 p.m. ET in New York on Wednesday to launch a $230 million seven-year covenant-light first-lien term loan, according to a market source.

Credit Suisse Securities (USA) LLC and Macquarie Capital (USA) Inc. are the lead arrangers on the deal.

The term loan has a 0% Libor floor and 101 soft call protection for six months, the source said.

Commitments are due at 5 p.m. ET on Sept. 19.

Proceeds will be used to help fund the buyout of the company by Thoma Bravo LLC from Silver Lake.

Closing is expected in the third quarter, subject to customary conditions and regulatory approvals.

Quorum is a provider of finance, operations and accounting software to energy companies.

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