Veracode readies launch of $300 million term loan B for Thursday

By Sara Rosenberg

New York, Oct. 14 – Veracode (Valkyr Purchaser LLC) is scheduled to hold a lender call at 10:30 a.m. ET on Thursday to launch a $300 million seven-year first-lien term loan B, according to a market source.

Barclays is the left lead on the deal and the administrative agent.

The term loan has 101 soft call protection for six months, the source said.

Security is a first-priority perfected interest in all of the existing and hereafter acquired real and intangible assets of the borrower and its subsidiaries.

Proceeds will be used to refinance the company’s $300 million of existing borrowings and pay related fees and expenses.

Veracode is a Burlington, Mass.-based provider of SaaS based application security testing solutions designed to enhance security and proactively prevent security breaches.

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