Kofax to launch $565 million credit facilities on Thursday morning

By Sara Rosenberg

New York, June 7 – Kofax (Project Leopard Holdings) is scheduled to hold a bank meeting at 10 a.m. ET in New York on Thursday to launch $565 million of credit facilities, according to a market source.

Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA and UBS Investment Bank are the lead banks on the deal.

The facilities consist of a $60 million revolver and a $505 million six-year covenant-light first-lien term loan, the source said.

Price talk on the term loan is Libor plus 550 basis points with a 1% Libor floor and an original issue discount of 99, the source continued.

The term loan has 101 soft call protection for six months.

Commitments are due at 5 p.m. ET on June 22, the source added.

Proceeds will be used to help fund the buyout of the company by Thoma Bravo from Lexmark International Inc.

Closing is expected in the third quarter, subject to customary conditions and regulatory approvals.

Kofax is an Irvine, Calif.-based provider of software solutions and services across multi-channel capture and financial process automation markets.

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