Forcepoint launches $525 million term loan at Libor plus 475-500 bps

By Sara Rosenberg

New York, Jan. 20 – Forcepoint launched on Wednesday its $525 million seven-year covenant-lite first-lien term loan with price talk of Libor plus 475 basis points to 500 bps with a 0.5% Libor floor and an original issue discount of 98.5, according to a market source.

The term loan has 101 soft call protection for six months.

The company’s $600 million of credit facilities (B3/B-/B+) also include a $75 million revolver.

Credit Suisse Securities (USA) LLC, UBS Investment Bank, Deutsche Bank Securities Inc. and Nomura are the lead arrangers on the deal.

Commitments are due at 5 p.m. ET on Feb. 2.

Proceeds will be used to support the buyout of the company by Francisco Partners from Raytheon Technologies, which was completed earlier this month.

Forcepoint is an Austin, Tex.-based provider of cybersecurity solutions.

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