RealPage launches $290 million add-on term loan B at 98.5 to 99 OID

By Sara Rosenberg

New York, Aug. 4 – RealPage Inc. launched on Wednesday its fungible $290 million add-on first-lien term loan B due April 2028 with original issue discount talk of 98.5 to 99, according to a market source.

Pricing on the add-on term loan is Libor plus 325 basis points with a 25 bps step-down at first-lien net leverage of 4.6x and a 0.5% Libor floor, in line with existing first-lien term loan pricing.

The add-on term loan has 101 soft call protection until October and amortization of 1% per annum.

Goldman Sachs Bank USA is the lead arranger on the deal.

Commitments are due on Aug. 11, the source added.

Proceeds will be used to support the acquisition of G5 Search Marketing Inc., a Bend, Ore.-based pure-play provider of digital marketing, advertising and analytics solutions to the real estate sector.

Closing is expected in the third quarter, subject to customary conditions.

Thoma Bravo is the sponsor.

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

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