Trace3 to launch $415 million first-lien term loan on Monday

By Sara Rosenberg

New York, Sept. 24 – Trace3 (Escape Velocity Holdings Inc.) will hold a lender call at 10 a.m. ET on Monday to launch a $415 million seven-year first-lien term loan, according to a market source.

Credit Suisse Securities (USA) LLC, Jefferies LLC and Wells Fargo Securities LLC are the lead arrangers on the deal.

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

Expected first-lien ratings are B3/B.

Commitments are due at 5 p.m. ET on Oct. 6, the source added.

The company’s $700 million of credit facilities also include a $150 million ABL revolver and a $135 million privately placed second-lien term loan.

Proceeds will be used to help fund the buyout of the company by American Securities.

Trace3 is an Irvine, Calif.-based technology solutions partner to enterprise and mid-market customers.

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