Flexera launches $425 million term loan at SOFR plus 375-400 bps

By Sara Rosenberg

New York, Nov. 29 – Flexera Software LLC launched on Wednesday its $425 million incremental first-lien term loan due March 2028 with price talk of SOFR+CSA plus 375 basis points to 400 bps with a 0.75% floor and an original issue discount of 98.5 to 99.04, according to a market source.

CSA is ARRC standard of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

The incremental term loan has 101 soft call protection for six months, and ticking fees of half the spread from days 61 to 90 and the full spread thereafter, the source said.

Jefferies LLC, Barclays, UBS Investment Bank, Goldman Sachs Bank USA and Mizuho are the arrangers on the deal.

Commitments are due at noon ET on Dec. 7, the source added.

Proceeds, along with equity, will be used to fund an acquisition.

Flexera is an Itasca, Ill.-based provider of SaaS-based IT management solutions that enable enterprises to accelerate digital transformation and multiply the value of their technology investments.

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