Flexera cuts spread on $355 million facility to Libor plus 375 bps

By Sara Rosenberg

New York, March 8 - Flexera Software LLC reduced pricing on its $355 million credit facility (B2) to Libor plus 375 basis points from talk of Libor plus 425 bps to 450 bps, according to a market source.

Also, the original issue discount was tightened to 99½ from 99, the source said.

The 1.25% Libor floor was left unchanged.

The facility is broken down between a $25 million revolver and a $330 million term loan B.

BMO Capital Markets Corp. is leading the deal.

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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