Qlik launches $2.4 billion term loan at SOFR plus 450-475 bps

By Sara Rosenberg

New York, Oct. 5 – Qlik (Project Alpha Intermediate Holding Inc.) held a lender call at 11 a.m. ET on Thursday to launch a $2.4 billion seven-year senior secured covenant-lite first-lien term loan B that is talked at SOFR plus 450 basis points to 475 bps with a 0.5% floor and an original issue discount of 98 to 98.5, according to a market source.

The term loan has 101 soft call protection for six months, amortization of 1% per annum and 0 bps CSA, the source said.

Morgan Stanley Senior Funding Inc., BMO Capital Markets, Goldman Sachs Bank USA, HSBC Securities (USA) Inc., BofA Securities Inc., Citigroup Global Markets Inc., Mizuho and Bank of Nova Scotia are the bookrunners on the deal. Morgan Stanley is the administrative agent.

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

Proceeds will be used to refinance the outstanding debt of Qlik and Talend and to pay related fees and expenses.

Talend, a data integration and data management company, was acquired by Qlik in May.

Qlik is a King of Prussia, Pa.-based data analytics company.

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