Forcepoint revises $55 million term loan issue price to par

By Sara Rosenberg

New York, June 17 – Forcepoint tightened the issue price on its fungible $55 million incremental first-lien term loan (B3/B-) due Jan. 8, 2028 to par from 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.

Recommitments were scheduled to be 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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