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Forcepoint launches $55 million incremental term loan at 99.75 OID
By Sara Rosenberg
New York, June 15 – Forcepoint was scheduled to hold a lender call at 1 p.m. ET on Tuesday to launch a fungible $55 million incremental first-lien term loan (B3/B-) due Jan. 8, 2028 that is talked with an original issue discount of 99.75, according to a market source.
Pricing on the incremental term loan is Libor plus 450 basis points with a 25 bps step-down at 4x first-lien gross leverage and a 0.5% Libor floor, in line with existing term loan pricing.
The incremental term loan has 101 soft call protection until July 8.
Credit Suisse Securities (USA) LLC is the lead arranger on the deal.
Commitments are due at noon ET on Thursday, the source added.
Proceeds will be used to fund the acquisition of Deep Secure, a U.K.-based provider of cybersecurity products, and pay fees and expenses.
Closing is expected in August, subject to regulatory review and customary conditions.
Forcepoint is an Austin, Tex.-based provider of cybersecurity solutions.
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