Veritas launches $1.32 billion and €549 million term loans

By Sara Rosenberg

New York, March 9 – Veritas Technologies launched on Tuesday a $1.322 billion term loan B due September 2025 and a €549 million term loan B due September 2025 talked at Libor/Euribor plus 500 basis points with a 1% floor and an original issue discount of 99.875, according to a market source.

The term loans have 101 soft call protection for six months, the source said.

BofA Securities Inc. is the lead on the deal.

Proceeds will be used to reprice existing U.S. and euro term loans down from Libor/Euribor plus 550 bps with a 1% floor.

Commitments are due at noon ET on March 18, the source added.

Veritas is a Santa Clara, Calif.-based provider of data protection and availability.

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