Vertafore details structure, price talk on $545 million facility ahead of Thursday launch

By Sara Rosenberg

New York, March 14 - Vertafore Inc. structure and price talk surfaced as the company is getting ready to launch its proposed $545 million credit facility to investors on Thursday, according to a market source.

The facility consists of a $370 million first-lien term loan talked at Libor plus 250 basis points and a $175 million second-lien term loan talked at Libor plus 600 bps, the source said.

JPMorgan, Credit Suisse and Wachovia are the lead banks on the deal, with JPMorgan left lead on the first-lien and Credit Suisse left lead on the second-lien.

Proceeds will be used for a dividend recapitalization.

Vertafore is a Windsor, Conn., enterprise software and information services provider to the property and casualty insurance industry.

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