Flexera reveals tranching on $700 million facilities ahead of meeting

By Sara Rosenberg

New York, Jan. 12 – Flexera will launch at its bank meeting on Tuesday a $25 million revolver, a $525 million first-lien term loan and a $150 million second-lien term loan, according to a market source.

Previously it was known that the company would be seeking $675 million of funded first- and second-lien credit facilities, but specific tranche sizes were unavailable.

Jefferies LLC is the left lead on the deal.

Proceeds will be used with equity to refinance existing debt and fund the purchase of a minority equity stake in the company by TA Associates.

Ontario Teachers’ Pension Plan will remain the majority owner of the company.

Closing is expected in February.

Flexera is an Itasca, Ill.-based software company.

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