RealPage plans $4 billion credit facilities for buyout by Thoma Bravo

By Sara Rosenberg

New York, Jan. 21 – RealPage Inc. has received a commitment for $4 billion of senior secured credit facilities to help fund its acquisition by Thoma Bravo, according to a PREM14A recently filed with the Securities and Exchange Commission.

Goldman Sachs Bank USA, Credit Suisse Securities (USA) LLC, UBS Investment Bank, Apollo, BMO Capital Markets, Barclays, Deutsche Bank Securities Inc., Jefferies LLC, KKR Capital Markets, Nomura Securities International Inc., RBC Capital Markets, Truist Securities Inc., Wells Fargo Securities LLC and SPC Financing Co. provided the debt commitment.

The facilities consist of a $250 million revolver, a $2.75 billion first-lien term loan and a $1 billion second-lien term loan.

Other funds for the transaction will come from $7.36 billion of equity.

Under the agreement, RealPage stockholders will receive $88.75 in cash per share. The transaction is valued at about $10.2 billion, including net debt.

Closing is expected in the second quarter, subject to customary conditions, including RealPage shareholder approval, expiration or early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and receipt of other required regulatory approvals.

RealPage is a Richardson, Tex.-based provider of software and data analytics to the real estate industry.

© 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.