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Gigamon readies launch of $536.6 million term loan for Wednesday
By Sara Rosenberg
New York, Feb. 16 – Gigamon Inc. is set to hold a lender call at 10 a.m. ET on Wednesday to launch a $536.58 million senior secured first-lien term loan (B2/B-) due December 2024, according to a market source.
Jefferies LLC is the lead arranger on the deal.
Price talk on the term loan is Libor plus 375 basis points to 400 bps with a 0.75% Libor floor, a par issue price for those rolling and an original issue discount of 99.75 for new money, the source said.
The term loan has 101 soft call protection for six months upon effectiveness of the amendment.
Proceeds will be used to reprice an existing term loan down from Libor plus 425 bps with a 1% Libor floor.
Commitments and consents are due at noon ET on Monday, the source added.
Gigamon is a Santa Clara, Calif.-based provider of active visibility into physical and virtual network traffic.
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