Vertafore launches term loan repricing at Libor plus 325-350 bps

By Sara Rosenberg

New York, Dec. 12 – Vertafore Inc. (VF Holding Corp.) planned to hold a lender call on Monday to launch a repricing of its existing $1.1 billion covenant-light first-lien term loan (B2/B-) due June 2023, according to a market source.

Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. and Mizuho are the leads on the deal.

The repriced loan is talked at Libor plus 325 basis points to 350 bps with a 1% Libor floor and a par issue price, the source said.

Included in the repriced loan is 101 soft call protection for six months.

The repricing will take the term loan down from Libor plus 375 bps with a 1% Libor floor.

Commitments are due at 5 p.m. ET on Thursday, the source added.

Vertafore is a Bothell, Wash.-based provider of software and information to the insurance distribution channel.

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