Veeam Software to launch $1.25 billion term loan B on Thursday

By Sara Rosenberg

New York, Feb. 4 – Veeam Software is scheduled to hold a bank meeting at 1 p.m. ET on Thursday to launch a $1.25 billion seven-year term loan B, according to a market source.

J.P. Morgan Securities LLC, Goldman Sachs Bank USA, Morgan Stanley Senior Funding Inc., Ares Management, BofA Securities Inc., Golub Capital and Antares Capital provided the financing commitment.

Commitments are due at 5 p.m. ET on Feb. 18, the source added.

Proceeds will be used to help fund the buyout of the company by Insight Partners.

Closing is expected this quarter.

Veeam Software is a provider of backup solutions that deliver cloud data management. The company is based in Baar, Switzerland, but will become a U.S. company with this transaction.

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