Vertafore finalizes $1.1 billion term loan at Libor plus 325 bps

By Sara Rosenberg

New York, Dec. 16 – Vertafore Inc. (VF Holding Corp.) firmed pricing on its $1.1 billion covenant-light first-lien term loan (B2/B-) due June 2023 at Libor plus 325 basis points, the low end of the Libor plus 325 bps to 350 bps talk, according to a market source.

As before, the term loan has a 1% Libor floor, a par issue price and 101 soft call protection for six months.

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

Proceeds will be used to reprice an existing term loan down from Libor plus 375 bps with a 1% Libor floor.

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

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