Informatica to launch $50 million second-lien term loan on Wednesday

By Sara Rosenberg

New York, July 7 – Informatica LLC is scheduled to hold a lender call at 11 a.m. ET on Wednesday to launch a fungible $50 million incremental covenant-lite second-lien term loan due February 2025, according to a market source.

Nomura is the lead arranger on the deal.

Pricing on the incremental second-lien term loan is a fixed rate of 7 1/8%, in line with existing second-lien term loan pricing, the source said.

Original issue discount talk on the incremental loan has not yet been announced.

Like the existing second-lien term loan, the incremental loan is non-callable until Feb. 25, 2021, then callable at 102 for a year and at 101 for a year.

Commitments are due at 5 p.m. ET on Thursday, the source added.

Proceeds will be used to repay revolving credit facility borrowings and to fund cash to the balance sheet.

Informatica is a Redwood City, Calif.-based provider of enterprise cloud data management software and services.

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