LANDesk Software launches $220 million credit facility via Wells Fargo

By Sara Rosenberg

New York, May 30 - LANDesk Software launched a $220 million credit facility on Wednesday, according to a market source.

Wells Fargo Securities LLC is the lead bank on the deal.

The facility consists of a $15 million revolver and a $205 million term loan, the source said.

Price talk on the term loan is Libor plus 525 basis points with a 1.25% Libor floor and an original issue discount of 99, the source said.

Proceeds will be used for acquisition funding.

Commitments are due on June 12.

LANDesk is a Salt Lake City-based provider of systems lifecycle management and endpoint security, as well as IT service management solutions for desktops, servers and mobile devices.

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