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Motus to launch $390 million first-lien term loan on Wednesday
By Sara Rosenberg
New York, Oct. 18 – Motus is scheduled to hold a lender call at 1 p.m. ET on Wednesday to launch a $390 million first-lien term loan, according to a market source.
The company’s $575 million of credit facilities also include a $50 million revolver and a $135 million privately placed second-lien term loan, the source said.
RBC Capital Markets, Barclays, Owl Rock and Thoma Bravo Credit are the joint lead arrangers on the deal.
Proceeds will be used to help fund a significant strategic investment in Motus by Permira. As part of the transaction, existing investor Thoma Bravo plans to reinvest and remain a significant investor in the company.
Closing is expected in the fourth quarter, subject to customary regulatory approvals.
Motus is a Boston-based reimbursement software platform for the anywhere workforce.
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