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McAfee/FireEye plans $1.07 billion of incremental term loans
By Sara Rosenberg
New York, June 22 – McAfee Enterprise/FireEye Products plans on getting $1.065 billion of incremental term loans to help fund the acquisition of FireEye by a consortium led by Symphony Technology Group, according to a market source.
UBS Investment Bank, Jefferies LLC, BofA Securities Inc., HSBC Securities (USA) Inc. and KKR Capital Markets are the joint bookrunners on the deal, with UBS the left lead.
The debt consists of a $900 million equivalent incremental first-lien term loan and a $165 million equivalent incremental second-lien term loan, the source said.
FireEye Products is being bought for $1.2 billion from FireEye Inc.
Symphony Technology Group intends to combine FireEye Products with McAfee Enterprise, a complementary cybersecurity business. Symphony expects its previously announced purchase of McAfee Enterprise to close in the third quarter.
Closing on the FireEye Products acquisition is expected by the end of the fourth quarter, subject to regulatory approvals and customary conditions.
Neither acquisition is conditioned on completion of the other.
FireEye Products is a provider of network, e-mail, endpoint and cloud security products.
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