ConnectWise finalizes $1.05 billion term loan B at Libor plus 350 bps

By Sara Rosenberg

New York, Sept. 24 – ConnectWise LLC firmed pricing on its $1.05 billion seven-year term loan B (B2//BB+) at Libor plus 350 basis points, the low end of the Libor plus 350 bps to 375 bps talk, according to a market source.

As before, the term loan has a 0.5% Libor floor, an original issue discount of 99.5 and 101 soft call protection for six months.

BofA Securities Inc. is the lead on the deal.

Recommitments were scheduled to be due at 11:30 a.m. ET on Friday, the source added.

Proceeds will be used to refinance an existing unitranche term loan due February 2025.

ConnectWise is a Tampa, Fla.-based business management platform.

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