Flexera talks $355 million credit facility at Libor plus 425-450 bps

By Sara Rosenberg

New York, Feb. 21 - Flexera Software LLC is talking its $355 million credit facility (B2) at Libor plus 425 basis points to 450 bps with a 1.25% Libor floor and an original issue discount of 99, according to a market source.

The facility consists of a $25 million revolver and a $330 million term loan B.

Commitments are due on March 6, the source added.

BMO Capital Markets Corp. is leading the deal that launched with a bank meeting on Wednesday.

Proceeds will be used to refinance an existing first- and second-lien credit facility.

Flexera is a Schaumburg, Ill.-based provider of strategic application usage management services for application producers and their enterprise customers.

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