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Accuvant/FishNet to launch $170 million in term loans on Wednesday
By Sara Rosenberg
New York, May 5 – Accuvant Inc./FishNet Security Inc. is scheduled to hold a lender call on Wednesday afternoon to launch $170 million in fungible incremental term loans, according to a market source.
Jefferies Finance LLC is the lead arranger on the deal.
The debt consists of a $100 million incremental first-lien term loan and a $70 million incremental second-lien term loan, the source said.
Pricing on the first-lien term loan is Libor plus 525 basis points with a 1% Libor floor, and pricing on the second-lien term loan is Libor plus 900 bps with a 1% Libor floor, with original issue discounts on the debt still to be determined.
Proceeds will be used to fund a distribution to existing shareholders.
Accuvant/Fishnet is a provider of information security services and solutions.
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