Vertafore to launch $170 million add-on term loan on Monday

By Sara Rosenberg

New York, May 10 – Vertafore Inc. is scheduled to hold a lender call on Monday to launch a fungible $170 million add-on covenant-lite first-lien term loan, according to a market source.

Golub Capital is the lead on the deal.

Pricing on the first-lien term loan is Libor plus 325 basis points with 0% Libor floor.

Proceeds will be used to fund an acquisition.

The existing first-lien term loan is sized at about $1.6 billion.

Bain Capital and Vista Equity Partners are the sponsors.

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

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