Monotype Imaging to launch $440 million first-lien term loan Tuesday

By Sara Rosenberg

New York, Sept. 12 – Monotype Imaging Holdings Inc. is scheduled to hold a bank meeting at 10 a.m. ET in New York on Tuesday to launch a $440 million seven-year covenant-lite first-lien term loan, according to a market source.

Deutsche Bank Securities Inc., Antares Capital, Macquarie Capital and BNP Paribas Securities Corp. are the bookrunners on the deal.

The company is also getting a $135 million second-lien term loan that was privately placed.

Based on filings with the Securities and Exchange Commission, the company’s credit facilities are expected to include a $50 million revolver as well.

Proceeds will be used to help fund the buyout of the company by HGGC for $19.85 per share in cash, representing an aggregate equity value of about $825 million.

Other funds for the transaction will come from up to $275 million of equity.

Closing is subject to Monotype shareholder approval, regulatory approvals and other customary conditions.

Monotype is a Woburn, Mass.-based provider of type related software solutions and technologies.

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