Flexera to launch $210 million incremental term loan on Wednesday

By Sara Rosenberg

New York, April 9 – Flexera Software LLC is set to hold a lender call at 10 a.m. ET on Wednesday to launch a fungible $210 million incremental first-lien term loan due March 2028, according to a market source.

Jefferies LLC is the left lead arranger on the deal.

Pricing on the term loan is SOFR+CSA plus 375 basis points with a 0.75% floor, in line with existing term loan pricing.

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

Original issue discount talk on the incremental term loan is 99.5 to 99.75, the source said.

Expected term loan ratings are B2/B-.

Commitments are due at noon ET on April 16, the source added.

Proceeds will be used with cash from the balance sheet to pay down an existing second-lien term loan.

Flexera is an Itasca, Ill.-based SaaS and Software Asset Management and Software Monetization provider.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.