Flexera finalizes $425 million term loan at SOFR plus 375 bps

By Sara Rosenberg

New York, Dec. 7 – Flexera Software LLC set pricing on its $425 million incremental first-lien term loan due March 2028 (B1/B-) at SOFR plus 375 basis points, the low end of the SOFR plus 375 bps to 400 bps talk, according to a market source.

Also, the original issue discount on the term loan was set at 99.54, including a 50 bps ticking fee upon allocation, compared to initial talk in the range of 98.5 to 99.04, the source said.

The incremental term loan still has a 0.75% floor and CSA of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, and ticking fees of half the spread from days 61 to 90 and the full spread thereafter.

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

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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