Flexera lifts incremental loan to $210 million, revises OID to 99.75

By Sara Rosenberg

New York, Jan. 10 – Flexera Software LLC upsized its fungible incremental first-lien term loan due February 2025 to $210 million from $60 million and tightened the original issue discount to 99.75 from talk in the range of 99.25 to 99.50, according to a market source.

Pricing on the incremental term loan matches existing first-lien term loan pricing at Libor plus 350 basis points with a 25 bps leverage-based step-down and a 1% Libor floor.

Jefferies LLC is the bookrunner on the deal.

Recommitments were scheduled to be due at noon ET on Friday.

Proceeds will be used to fund an acquisition and, due to the upsizing, to repay second-lien term loan borrowings, the source added.

Flexera is an Itasca, Ill.-based provider of software and services that enable software publishers and device makers to install, enforce and deploy software licenses.

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