Flexera to launch $285 million first-lien term loan on Wednesday

By Sara Rosenberg

New York, Nov. 30 – Flexera Software LLC is scheduled to hold a lender call at 1:30 p.m. ET on Wednesday to launch a non-fungible $285 million incremental first-lien term loan due February 2027, according to a market source.

The company is also getting a $65 million revolver due December 2025 and a $260 million privately placed second-lien term loan due December 2028, the source said.

Jefferies LLC, BofA Securities Inc., Barclays, UBS Investment Bank, Truist and Mizuho are the bookrunners on the deal.

The incremental first-lien term loan has 101 soft call protection for six months, and the second-lien term loan has hard call protection of 102 in year one and 101 in year two, the source added.

Proceeds will be used to fund the majority acquisition of the company by Thoma Bravo and will supplement the existing portable first-lien term loan.

Flexera is an Itasca, Ill.-based provider of software that allows software publishers, intelligent device manufacturers, and software buyers to install, track, monitor, and manage application usage to optimize utilization.

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