Corel launches $90 million add-on term loan at discount of 99.5

By Sara Rosenberg

New York, Nov. 15 – Corel Corp. held a lender call on Thursday to launch a $90 million add-on term loan to existing lenders that is talked with an original issue discount of 99.5, according to a market source.

Pricing on the add-on term loan is Libor plus 500 basis points with a 0% Libor floor, in line with existing term loan pricing, the source said.

UBS Investment Bank is the lead bank on the deal.

Proceeds will be used to fund an acquisition.

Commitments are due on Nov. 27, the source added.

Corel is an Ottawa-based software company.

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