Vertafore $335 million credit facility to launch Thursday

By Sara Rosenberg

New York, Jan. 3 - Vertafore Inc. is scheduled to hold a bank meeting on Thursday to launch its proposed $335 million credit facility, according to a syndicate document.

Credit Suisse First Boston and JPMorgan are joint lead arrangers and joint bookrunners on the deal, with CSFB also acting as administrative agent, JPMorgan as syndication agent and Wachovia as documentation agent.

The facility consists of a $30 million five-year revolver talked at Libor plus 275 basis points with a 50 bps commitment fee, a $180 million six-year first-lien term loan B talked at Libor plus 275 bps and a $125 million seven-year second-lien term loan talked at Libor plus 650 bps, the document said.

Proceeds will be used for a dividend recapitalization.

Vertafore, a portfolio company of Hellman & Friedman LLC, is a Windsor, Conn., enterprise software and information services provider to the property and casualty insurance industry.

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