Vocus readies launch of $465 million credit facility for Thursday

By Sara Rosenberg

New York, April 30 - Vocus Inc. will hold a bank meeting on Thursday to launch a proposed $465 million credit facility, according to a market source.

Jefferies Finance LLC, Deutsche Bank Securities Inc., BMO Capital Markets and AllyCommercial Finance are the leads on the deal.

The facility includes a $25 million revolver, a $325 million first-lien term loan and a $115 million second-lien term loan.

Proceeds will be used to help fund the buyout of the company by GTCR LLC for $18.00 per share, or about $446.5 million, and merger with Cision.

Other funds for the transaction will come from 36% equity.

Total leverage is 4.5 times, the source added.

Closing is expected by the end of the second quarter, subject to satisfaction of a minimum tender condition, clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, receipt of financing and other customary conditions.

Beltsville, Md.-based Vocus and Cision are providers of cloud-based marketing and public relations software.

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