BlueCrest to launch $445 million term loan B on Tuesday

By Sara Rosenberg

New York, Nov. 30 – BlueCrest (DMT Solutions Global Corp.) is set to hold a lender call at 10 a.m. ET on Tuesday to launch a $445 million five-year covenant-lite term loan B, according to a market source.

Deutsche Bank Securities Inc., BofA Securities Inc., Goldman Sachs Bank USA and KeyBanc Capital Markets are the bookrunners on the deal.

Price talk on the term loan B is Libor plus 700 basis points with a 1% Libor floor and an original issue discount of 97 to 98, the source said.

The term loan has 101 soft call protection for one year.

Commitments are due at noon ET on Dec. 10, the source added.

Proceeds will be used to fund the acquisition of BCC Software, refinance the existing capital structure and pay related fees and expenses.

BlueCrest is a Danbury, Conn.-based technology company focused on enterprise print, mail and customer communications. BCC is a Rochester, N.Y.-based provider of postal technology.

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