Citrix underwriters sell off about $655 million of term loan A debt

By Sara Rosenberg

New York, Dec. 14 – Citrix Systems Inc.’s underwriters sold $655.12 million of term loan A debt they were holding onto at a trade price of 89, according to a market source.

This latest sale is in addition to a recent sale of $838.2 million of the term loan A by underwriters at a price of 87.

As a result of these trades, underwriters are now holding about $1 billion of the roughly $2.5 billion term loan A due 2028.

BofA Securities Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA, Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., KKR Capital Markets LLC, Mizuho Bank, Morgan Stanley Senior Funding Inc., RBC Capital Markets, Apollo Global Funding, Jefferies LLC, BMO Capital Markets, BNP Paribas Securities Corp., Guggenheim, HSBC Securities (USA) Inc., Macquarie Capital (USA) Inc., Nomura Securities International Inc., Truist Securities Inc., UBS Securities LLC, Wells Fargo Securities LLC, KeyBanc Capital Markets Inc., MUFG, The Bank of Nova Scotia, Societe Generale, Stifel Nicolaus and Co., SPC Capital Markets LLC, TD Securities (USA) LLC, Fifth Third Bank, ING Capital LLC, IMI, Natixis, Santander Bank and U.S. Bank are in the underwriting group.

As previously reported, the term loan A was used to help fund the buyout of the company by Vista Equity Partners and Evergreen Coast Capital Corp. for $104.00 in cash per share and merger with Tibco Software Inc., one of Vista’s portfolio companies, repay existing debt at Citrix and Tibco and add cash to the balance sheet.

Citrix is a Fort Lauderdale, Fla.-based provider of secure, unified digital workspace technology. Tibco is a Palo Alto, Calif.-based infrastructure and business intelligence software company.

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