Veracode to launch $580 million first-lien term loan on Monday

By Sara Rosenberg

New York, April 7 – Veracode (Mitnick Corporate Purchaser Inc.) is set to hold a lender call at 9 a.m. ET on Monday to launch a $580 million seven-year first-lien term loan, according to a market source.

Deutsche Bank Securities Inc. is the left lead bookrunner and administrative agent on the deal.

The term loan has 101 soft call protection for six months, the source said.

Commitments are due at noon ET on April 20.

Proceeds will be used to help fund the buyout of the company by TA Associates in a transaction that values Veracode at $2.5 billion. Veracode’s current majority investor, Thoma Bravo, will retain a minority position in the business.

Closing is expected this quarter, subject to customary conditions.

Veracode is a Burlington, Mass.-based provider of application security solutions.

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