WebPros prices $540 million term loan at Libor plus 525 bps

By Sara Rosenberg

New York, May 11 – WebPros Group completed syndication of its $540 million seven-year first-lien term loan B (B3/B/B+) at pricing of Libor plus 525 basis points with a 0.5% Libor floor and an original issue discount of 94, according to a market source.

The first-lien term loan has 101 soft call protection for one year and amortization of 1% per annum, the source said.

Along with the first-lien term loan, the company got a $145 million privately placed second-lien term loan.

Goldman Sachs Bank USA, Macquarie Capital (USA) Inc., HSBC Securities (USA) Inc. and Morgan Stanley Senior Funding Inc. are the leads on the deal.

Proceeds are being used to refinance a bridge loan used to support the acquisition of the company by CVC from Oakley Capital

WebPros is an Amsterdam-based provider of web hosting automation software.

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